Apple net worth hits $1-trillion mark; now worth 2 Facebooks, 7 Netflixes and 42 Twitters
03 Aug 2018, 18:37
Apple on Wednesday touched a major market cap milestone as it becomes the first publicly traded company to hit the $1-trillion mark. While Apple CEO Tim Cook said that the company will focus on future goals and not on the “milestone”, it seems that the Cupertino-based tech giant achieved a few more milestones. With Apple’s valuation touching the $1-trillion mark, the company’s value is now worth two times of Facebook, seven times of Netflix and 42 times more than the value of Twitter. It should be noted that Apple’s valuation of $1.04 trillion, which is far ahead of Facebook’s market cap at 513.29 billion or Netflix’s $149.30 billion m-cap, reports timesnownews.com.
It is at least 42 times the valuation of Twitter as well. It is worth mentioning that the technology giant’s valuation is now at par with the GDP of Indonesia, which is the 16th largest GDP in the world. Worth mentioning that Apple shares on Thursday jumped 2.9 per cent to end the trading session at $207.39, enabling it to touch the magic market cap figure. While it matched the GDP of Indonesia, the company’s market share is now more than the GDP of Switzerland, which has a GDP of $678.89 billion in 2017. Other than that, countries such as Saudi Arabia, Netherlands and Turkey also had a GDP lower than that of Apple’s market share. It is a remarkable journey for the company which was co-founded by the iconic Steve Jobs in 1976. Jobs and Apple had to face several hardships in the initial days with the company nearing bankruptcy in 1997 when its stocks were trading below $1. However, the company managed to weather the storm since then and got a breakthrough in 2007 as it came out with the first ever iPhone.
Analysts in Wall Street explained that the main reason behind the elevation was the better-than-expected third quarter results, adding that the company’s market cap may grow even further in future.