Apple’s market cap is now over $700 Billion
Apple shares ended the day trading at $128.71 on February 19. This gives Apple a massive market cap of $745.01 billion, which once again makes Apple the single most valuable American company ever just one day after it broke through the $700 billion barrier for the first time. That’s nearly double the next largest company on the list, Exxon Mobil.
This Apple breakthrough is also remarkable because Apple’s total market cap is now more than the combined market caps of Google and Microsoft. Yes, you read that correctly. If you add Google’s market cap of $370.21 billion to Microsoft’s market cap of $357.85 billion, you get $745.01 billion or almost $17 billion less than Apple’s market cap at the end of trading day.
Apple CEO, Tim Cook, credited Apple’s success to its ability to sell pricey products to Chinese consumers and ignore commonly accepted beliefs about big companies. Cook stated that Apple has grown rapidly in China by disregarding conventional wisdom that Chinese consumers were too price-sensitive for Apple’s high-end products.
Whether Apple can maintain this value moving forward is open for debate, of course, but given its exceptionally high customer loyalty, there’s no reason to think Apple won’t continue posting record profits for a while.
Branded Content Manager at ComboApp