Q TECH – Apple Inc., the U.S. technology giant, has gone where no U.S. company has gone before, on Tuesday becoming the first company ever in the world to enjoy a market capitalization of US$800 billion.
If Apple were a country, the iPhone its capital, it would bn 17th largest economy in the world.
Along with the Larry Page and Sergey Brin founders of Google parent Alphabet Inc. (US$660 billion) and Bill Gates’ Microsoft (US$530 billion), the three ‘AAM’ (Apple, Alphabet and Microsoft) firms are worth nearly US$2 trillion.
There are 119 countries in the world, including in Costa Rica, Bulgaria, Yemen, Uzbekistan, Luxembourg and neighbouring Myanmar, whose combined GDP equals the market capitalization of these three big multinational firms.
Other most-valued firms include Amazon (US$455 billion), Facebook (US$435 billion), Warren Buffett’s Berkshire Hathaway (US$400 billion), Exxon Mobil (US$350 billion) and Johnson & Johnson (US$330 billion), among others.
Apple’s peak is less than 2 ½ years since it passed the previous US$100-billion milestone. With 5.21 billion shares outstanding as of March 31, according to filings, Apple’s market cap reached US$802.72 billion. The achievement comes one week after Apple reported fiscal second-quarter results that initially disappointed investors.
For Apple to reach $900 billion at the current share count, the stock would have to close at or above $172.62, which is 12.1% above current levels. For $1 trillion, the stock would have to rally 24.6% to $191.80.