Probably the most expensive Apple you’ll ever see in the market; Even more than GDP of most countries

Fri, Aug 3, 2018 5:51 AM on Featured, International, Stock Market,

-ShareSansar

~Rishab Agrawal

Apple Incorporated, a world renowned company that almost everyone has heard of, became the first and the only U.S Company to hit the $1 trillion mark in value yesterday. The tech giant’s stock jumped 2.9% to end the day at $207.39, giving it a market capitalization of exactly $1.002 trillion. The stock’s strong performance comes after Apple reported better than expected results for its fiscal third quarter on Tuesday.

Apple has come a long way since 1976 when it was started in the garage of Steve Job’s parents’ house in the Silicon Valley. The company’s journey from a garage to being valued more than the GDP of most countries is nothing short of an unbelievable tale. Though only a few names like Steve Jobs, Steve Wozniak, and Tim Cook have been highlighted; this achievement is the reward of the blood and sweat of all the 120,000 employees of the company.

Another company, namely PetroChina had hit market capitalization of $1.1 trillion in 2007 but by the end of 2008 it lost $800 billion in value. Let’s hope Apple doesn’t follow the same trend.

Other companies in the race to achieve the trillion dollar milestone were:

Amazon.com Inc. currently standing at valuation of $873 billion
Alphabet Inc. with valuation of $849 billion and
Microsoft Corporation at $818 billion

Apple’s market cap makes it larger than the GDP of each of 183 out of 199 countries in the world as per the GDP data of World Bank. Some of the notable ones include Turkey, The Netherlands, Saudi Arabia, Argentina and Sweden. Having stated that, it might not surprise you to know that Apple’s value is almost 34 times the GDP of Nepal and 72 times the market capitalization of NEPSE. Talk about an apple being expensive!

Nepal with centuries of history and combined efforts of almost 30 million people is still 34 times behind a tech giant which started in a garage four decades ago. This is something to think about.