Apple now worth as much as all euro zone banks combined
That's the result of the DJ STOXX euro zone banks index bleeding a third of its value since the start of July, driven by sharp declines in the share price of big banks such as Spain's Santander, France's BNP Paribas, Germany's Deutsche Bank and Italy's Unicredit.
The index fell another 4 percent on Friday, dropping the combined value of its 32 members to $340 billion. That's precisely the market capitalization that Apple has soared to in recent months on the success of its iPhone and iPad devices.
For Apple, the accolade is just the latest in a growing string of financial related achievements. In addition to its back-and-forth battle with Exxon Mobile for the title of the most valuable company in the world, it was disclosed last month the the iPad maker's $76B in cash reserves recently surpassed the US government's own operating balance.
Back in June, it was also estimated that Apple's then war chest of $70 billion would have been enough to potential buy out rivals Nokia, Research in Motion, HTC and Motorola.
64 Comments
are these stories really necessary anymore? i think we get the point, apple is a very successful company.
No big surprise here.....
St least for Apple. Whats gonna happen when China Mobile comes on board.
If Samsung is shut out of Europe and elsewhere.
Also, HTC might start giving up on Android
Android might have to look a little different to the others if Oracle gets their way.
HP/Palm are going down in flames.
Microsoft/Nokia will probably only have one shot to prove themselves capable.
Nice job on deleting the responses which pointed out your article's original mistake - censorship kings.
PS. You STILL haven't gotten it right - it's $340 BILLION not million !!
Nice job on deleting the responses which pointed out your article's original mistake - censorship kings.
PS. You STILL haven't gotten it right - it's $340 BILLION not million !!
Yeah, my thoughts exactly... $340,000,000 is 1/223 of the CASH on Apple's balance sheet ($76B).