You probably are thinking that the headline of this post is crazy, but in reality it is not. Apple’s share price and market cap has grown like a weed. Just yesterday, it was reported that Apple’s share price had closed at all-time high of $429. While the share price continues to grow, its market cap is growing too. Today, Apple’s market cap has touched $400 Billion, reports CNN Money. It is a record high for the world’s most valuable technology company.
The company’s market cap skid just below the $400 billion mark and share price fell back from an all-time high of $431.37 it set earlier in the morning. At the end of the day, Apple closed at a market cap of $398 billion. In fact, once Apple’s market cap closes at $400 billion, it will only be $20 billion away from becoming the world’s most valuable company. In the past, Apple has stolen the spot away from Exxon. Currently, Exxon claims that spot with a market cap of $420 billion.
Just a few months ago, Apple was worth as much as all Euro zone banks combined. Today, Apple’s worth is higher than the gross domestic product of Greece, Austria, Argentina, or South Africa. Holy moly, and to think the company was doomed nearly a decade ago. What’s hilarious is that Apple’s market cap is nearly twice of Google’s ($207 billion) now. You know, the company that’s dominating in marketshare. To see all the things Apple is worth more than, checkout out this blog.
So let me get this straight, a company that was nearly dead at one point has seen a growth of nearly 4000% in the past 10 years, has more cash in the bank than the US Government, is worth more than Greece, and is the most valuable technology company in the world. Mind boggling isn’t it? Next week, Apple will report its quarterly earnings for the past, and it is expected to be a $40 billion quarter for the company.