Posted on 01/20/2012 7:42:07 AM PST by SeekAndFind
Apple's value on the stock market briefly rose to $400 billion on Thursday, a record high for what was already the world's most valuable technology company.
The company's market cap slipped below the $400 billion mark by midday as Apple's (AAPL, Fortune 500) stock fell back from the all-time high of $431.37 it set earlier in the morning. Shares ended the day slightly down, leaving Apple with a $398 billion market value.
Still, that puts Apple in some pretty exclusive territory. Only Exxon Mobil (XOM, Fortune 500) has a higher valuation, at about $420 billion. PetroChina (PTR) is Apple's closest competitor, at $270 billion, and Microsoft (MSFT, Fortune 500) follows at $245 billion.
Apple's market cap is higher than the gross domestic product of Greece, Austria, Argentina, or South Africa.
Despite its size, Apple is still one of the fastest growing technology companies. The company will report its finances for the past quarter next week, and analysts expect Apple to announce that its sales grew by 45% compared to last year, according to a survey conducted by Thomson Reuters.
(Excerpt) Read more at money.cnn.com ...
Dear Apple Executives,
30 years ago: Eastman Kodak was one of the largest of the “Nifty Fifty” — Yesterday: Kodak filed for bankruptcy.
RE: 30 years ago: Eastman Kodak was one of the largest of the “Nifty Fifty” — Yesterday: Kodak filed for bankruptcy.
_______________________
May the one who overthrows Apple in 30 years THRIVE !!
500,000 Apple Jobs in China 40,000 in USA see a Problem??
“All glory is fleeting.”
“Apple is worth more than Greece (Or Argentina or South Africa)”
Also Lesoto, Togo, Zimbabwe, and Djibouti.
It isnt exactly hard for a company to be “worth” more than bankrupt nations.
Of course, market cap v. GDP is a stupid comparison: market cap is valued in dollars, GDP in dollars/year. It’s a bit like marvelling that the distance from Kansas City to Wichita in miles is bigger than the speed limit on the Kansas Turnpike in miles/hour.
Let me know when a company’s market cap exceeds the total value of all capital in a developed country, or a company’s annual revenues exceed a developed country’s GDP and I’ll be impressed.
Or individuals.
The change in my pocket makes me worth more than Greece, because I’ve actually got some assets.
hell, I’M worth more than Greece. most of us are since greece has a negative net worth;-)
Kodak's fall was self-sustained. They sat on their hands milking their profits from film while the world around them turned digital.
Apple is unlikely to make the same mistake as they are constantly innovating and are themselves driving other dinosaur industries out of business.
Thanks SeekAndFind.
I’d accept a comparison of GDP to revenue, but market cap is silly.
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