Apple Is The First Company Worth $800 Billion

Posted: May 9 2017, 4:44am CDT | by , Updated: May 9 2017, 5:28am CDT, in News | Apple

 
Apple Surpasses itself and is Currently Worth Almost $800 Billion
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  • Apple Breaks its Own Market Cap Record by Hitting $800 Billion First Time

Apple has surpassed itself and is currently worth almost $800 billion.

The question that what is Apple Inc. worth in the final analysis has a straight forward answer for now. At a whopping $776.7 billion, it seems to have broken its own record. It is the most valued public company there ever was.

According to WSJ, the stock price share placed Apple at $149.03 per share which meant that it was at the very acme of the market. The previous figure of $774.7 billion had thus been left behind.

This streak of huge profits has been a consistent feature of Apple. Apple also has a habit of repurchasing its own shares. Apple’s tenth anniversary iPhone is also about to come into the market. This is the iPhone 8 which will be in showcases by the time September 2017 arrives.

Although Apple sold a lesser number of iPhones this time around, it did make more money since the iPhone 7 Plus had a price which was a bit steep, according to CNet. The CEO of Apple, Tim Cook has said that the rumors concerning the iPhone 8 were probably responsible for the sluggish rate of iPhone sales.

According to CNBC, Apple has hit a new high with its $800 billion top notch profit figure. The quarterly earnings were a mixed bag earlier this week. Wall Street has been good to Apple so far.

How it all fares in the future is anybody’s lucky guess though. Apple has its eyes set on the top position though. It might soon actually be reaching a total assets value of one trillion dollars.

Apple has covered the ground 80% of the way towards this goal. In the future, the iPhone 8, repatriation of foreign investments and novel as well as creative solutions could lead to greater shares for Apple.

The famous investor Warren Buffet also lauded Apple for being a company that churned out a very valuable product. This is the iPhone of course.

According to BGR, any product or service is worth what people are willing to pay for it. Apple could well be on the royal road to riches as a business, provided it handles the cards it has been dealt wisely. Everything seems to be going Apple’s way right now.

The NASDAQ 100 also reached an all-time high recently lending testimony to the greatness of Apple as a significant contributor to the economy of the nation.

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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.

 

 

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