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Apple's Market Cap Exceeded 1.5 Trillion Dollars

posted by martyb on Sunday June 14 2020, @09:16AM   Printer-friendly
from the That’s-a-big-apple- dept.

upstart writes in with an IRC submission:

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.

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  • (Score: 1) by khallow on Sunday June 14 2020, @02:47PM (2 children)

    by khallow (3766) Subscriber Badge on Sunday June 14 2020, @02:47PM (#1007768) Journal
    Just remember that the Panama papers describe the flowing of money, not the hoarding of money. The money that moves into such tax havens then moves out into investments. Apple probably is seeing a bit of that.

  • (Score: 0) by Anonymous Coward on Monday June 15 2020, @10:34AM (1 child)

    by Anonymous Coward on Monday June 15 2020, @10:34AM (#1008078)

    Google parent Alphabet overtakes Apple to become world's most cash-rich company [cnet.com]

    It's got $117 billion in liquid reserves, compared to Apple's $102 billion, the Financial Times reported.

    The top two "cash hoarders" have a stash of $117B + $102B = $219B in cash.

    • (Score: 1) by khallow on Monday June 15 2020, @01:11PM

      by khallow (3766) Subscriber Badge on Monday June 15 2020, @01:11PM (#1008111) Journal

      The top two "cash hoarders" have a stash of $117B + $102B = $219B in cash.

      A savings account is a liquid reserve too and yet that money isn't hoarded.