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posted by mrpg on Friday August 03 2018, @05:05AM   Printer-friendly
from the moolah++ dept.

c|net reports:

It's official. Apple on Thursday became worth over $1 trillion. Yes, that's right, $1 trillion. As in $1,000,000,000,000.

Shortly before 9 a.m. PT on Thursday, Apple's stock hit $207.05 a share, giving it a market capitalization at that trillion-dollar mark. Apple -- the biggest public company in the world -- had 4,829,926,000 shares outstanding as of July 20, which meant its stock had to hit $207.05 to be worth $1 trillion.

The stock dipped below that level during Thursday's trading session but closed up 2.9 percent at $207.39, cementing the iPhone maker's new status as a trillion-dollar company and the first US public company to hit that level.

That made Apple worth more than all but the 15 richest countries in the world, based on 2017 data from the CIA World Factbook (that's the number with a gross domestic product totaling more than $1 trillion last year). And this is only the second time a public company has ever been valued in the 13 digits. PetroChina, an oil and gas company, topped $1 trillion for a short time on the Shanghai Stock Exchange in 2007.

Also at BBC, Ars Technica, and phys.org.

So, how many apples (the edible kind) could you buy with all that money and how big a pile would you have?


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  • (Score: 3, Interesting) by c0lo on Friday August 03 2018, @11:58AM (2 children)

    by c0lo (156) Subscriber Badge on Friday August 03 2018, @11:58AM (#716640) Journal

    Unless what they bought back are destroyed, the multiplication is valid. Whether or not that's their market value is maybe disputable, but the "market capitalization" is right (meaningless metric as it may be).

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  • (Score: 2) by toddestan on Friday August 03 2018, @11:18PM

    by toddestan (4982) on Friday August 03 2018, @11:18PM (#717025)

    If the shares are owned by Apple then they aren't outstanding shares and therefore don't count regardless of whether or not they still exist on paper.

  • (Score: 2) by FatPhil on Sunday August 05 2018, @09:21PM

    by FatPhil (863) <pc-soylentNO@SPAMasdf.fi> on Sunday August 05 2018, @09:21PM (#717615) Homepage
    https://www.investopedia.com/terms/o/outstandingshares.asp

    Also - note that this is fake news for a second reason!
    """
    Interestingly, Apple is not the first company globally to ever hit $1 trillion in market capitalization.

    The feat was achieved momentarily by PetroChina in 2007, after a successful debut on the Shanghai Stock Exchange that same year.

    And as we noted previously, the $800 billion loss it experienced shortly after is also the largest the world has ever seen.
    """ -- ZH
    --
    Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves