tim-cook-apple

Apple has just become the world’s first $700 billion company, after shares of AAPL closed at $122.02, a new split-adjusted all-time high for the iPhone giant.

With this record close, Apple now sits at a massive $710,000,000,000 market cap – twice the size of Microsoft and largely beating oil-giant Exxon, who is in second-place at $385 billion.

Apple’s stock has been roaring back to life after Apple’s record iPhone sales smashed analyst estimates, the company has been giving more money back to shareholders, and it reached a $100 billion cash reserve.

The record came as Tim Cook, CEO of Apple, was speaking at the Goldman Sachs conference on Tuesday.

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Previously, there had been years of doubt from analysts that Apple could fend off competitors like Samsung. Apple’s record on Tuesday comes two weeks after it reported earnings of $18 billion on revenue of $74.6 billion during the holiday quarter.

Market value is common for investors to measure how much a company is worth. It is determined by multiplying the company’s shares outstanding by its stock price. Apple has 5.82 billion shares outstanding, multiplied by the closing price of $122.02.

Source: Business InsiderWSJ

  • Dalton

    *Wait for the naysayers* APPLE IS DOOMED. WE ARE ALL DOOMED. BUILD YOUR DOOMSDAY BUNKERS NOW

    • Fanboy 

      “The iPhone will never be successful!”
      “Who is going to buy these iPads?!”
      and the most recent:
      “The Apple Watch wont sell its a fail”

      Apple is just sitting back throwing $100 bills at the haters 🙂

    • Tronjheim79

      Apple is DOOMED (TM).

    • kickinghorse9

      Yes it’s DOOMED!! Cuz it’s still riding on its past momentum! Think different is DEAD!

  • Mason

    You missed three zeroes in their market cap haha

  • Digitalfeind

    Anyone else remember that South Park episode where they burn down the Walmart because it was getting to big??

    • Christian Mejía

      Too

      • Digitalfeind

        Ooo o o ooo o o ooo

      • Christian Mejía

        Grow up.

      • Digitalfeind

        I should grow up because you don’t like what I posted?? Cry me a river.

      • Christian Mejía

        You should grow up because you act like a child when someone corrects you.

      • Digitalfeind

        You need to stop acting like a child when someone makes a joke. “Oooooo I’m so sorry I was using speech too ( correct that ) text and did not correct it.” I did not think I was being quizzed by a grammar junkie. Please go get a life. Seriously, who takes offense to the picture I replied with??

      • Christian Mejía

        I didn’t even look at the picture. I’m not taking offense it’s funny that you get mad over someone correcting you. Maybe you should be the one getting a life since you want to fight over this.

      • Digitalfeind

        Look next thyme.

      • Christian Mejía

        Thanks for proving my point.

      • Digitalfeind

        You made no point.

  • Eric Saferstein

    Funny how a tech company could be worth over 700 billion and its CEO is
    still not allowed to warn people that LEGITIMATE emergency evacuation
    orders for large, confined crowds (stadiums, ballparks, etc.) do NOT
    come from their personal cell phones. All the money in the world can’t
    buy situational awareness.

    ++++++ agsaf dot org +++++++

  • Tyler

    Skynet

  • jzack

    should we buy or sell it on this current state?

    • Marcus

      It might be a good idea to buy it. I feel like it will increase after Apple Watch is released.

  • Daniel

    Apple be like

  • Cameron

    Tim Cook is destroying Apple. Steve jobs is the best

  • Slifur

    This cant be true! Steve was already dead right? /s