Happy times revisit the Cupertino, as Apple has officially become the world’s only trillion dollars publicly traded company. Apple’s stock price rose to $207.05 in intraday trading, and its market cap has crossed the magic figure of $1,000,000,000,000.
While industry experts are busy finding the reasons behind Apple’s enormous growth, we are more interested in comparing Apple’s achievements to other companies, which are not necessarily Apple’s rivals.
Apple Goes Miles Ahead of Other Giant Companies
It is an incredible achievement for Apple as it has left behind many other giant corporations and entire industries. Prominent players in the banking, automobile, and media & entertainment cannot even dream to beat Apple’s achievement.
Once the US economy was ruled by automakers, but now they lag behind this technology company. The combined worth of Ford, Volkswagen, Honda, BMW, and other major automakers is $964 billion.
Notably, Apple is investing heavily in its dream project of Apple Car; once this project of a self-driving car is up and running, the automobile industry will be revolutionized.
What about the banking sector? Apple’s total market cap is close to the combined value of the four leading banks in the United States. These banks include Bank of America ($312.1 billion), Citigroup ($181.0 billion), Wells Fargo ($280.9 billion), and JPMorgan Chase ($393.8 billion). The total market cap of the above banks is $1.168 trillion.
Apple can easily control the entire American media industry, including Netflix ($147.3 billion), Comcast ($162.2 billion), Disney ($168.0 billion), and 21st Century Fox ($83.0 billion) and all the leading news publishers and TV channels.
However, Apple’s peers are not much far behind the company. The combined value of Amazon ($876.6 billion), Alphabet ($853.2 billion), and Microsoft ($816.6 billion) reaches $2.546 billion. Individually, all the three companies have to move heaven and earth to surpass Apple’s market capital.
From here, Apple is all set to take a giant leap further. Apple has delivered excellent performance in its product line and service industry. Probably, Apple may want to share this achievement with its team, shareholders, associates, and everybody linked to the company directly or indirectly.
Well, Mr. Cook, kindly take note that iGeeksBlog has also provided its small support to your growth story ☺.
With this huge success, we wish Apple all the best. The company should spend more on research and development to improve its product lineup and services. Apple still lags behind other technology companies when it comes to R&D spends as the company stands at sixth position in R&D investment.
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