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Apple is now worth 1.5 trillion dollars:
[On Wednesday, June 10], Apple became the first US company to achieve a $1.5 trillion market capitalization. The stock surged even as investors began pulling back in many other areas of the economy.
Reasons given by investors for the optimism include anticipation of the launch of a 5G iPhone this fall, signs of strong App Store sales, and interest in the potential of ARM-driven Macs, based on a Bloomberg report yesterday that said Apple may announce an ARM transition at its annual developer conference later this month.
Yesterday and today, Apple's movement ran counter to most of the rest of the market, where investors' actions have reflected fear of a global coronavirus resurgence and anticipation of bad news from the US Federal Reserve in a report due out today.
Market capitalization essentially means the total number of shares of a company being traded multiplied by the current trading value of a share in that company, making it the best publicly available measure of the company's actual value.
AAPL was at $338.40 per share as of June 13 which gave it a total market capitalization of $1.47 trillion.
(Score: 1) by khallow on Monday June 15 2020, @01:00PM
There's always an excuse for why it doesn't work. The USSR for a glaring counterexample was quite industrialized in 1945. Now, the US is post-industrialized with the conditions of the 1850s no longer applying to it.
Pretty irrelevant since a lot happened in Europe between the development of feudalism, which started way back in the 4th century (!) during the decay of the Roman Empire, and the 1850s when Marx came up with his theories.
Which I should note, the "destruction through unrelenting advance" didn't happen - turns out all that unrelenting advance made labor more valuable, completely opposite of what was claimed would happen. Instead, we're seeing destruction of capitalism through the usual mechanisms of parasitism. For example, in the US a wealth transfer of roughly 3% of the US's GDP is going from young adults to the elderly, just because way-back-when someone didn't want granny eating cat food. A similar transfer of wealth happens through Medicare and government bonds too. Well, what a coincidence that we're hearing whining about Boomers who will be the last generation to (at least for the leading part) get more out of these programs than they put in.
Governments of the developed world, including those of the US, typically consume 30-50% of the respective country's GDP for stuff (like roads, emergency services, etc) that should cost a fraction of that. Another symptom is the complex and opaque bureaucracies that are funded with that money. And of course, the bribing of the public with those unsustainable levels of entitlements. That's not a flaw of capitalism, that's a flaw of any form of governance that goes on too long.
Marx tried to get around that by claiming that communism was some asymptotic process that would gradually eliminate the state. Sorry, that's yet another fairy tale. We haven't seen any withering of the state.