Apple’s $700 BEEELLION market cap makes it more valuable than Switzerland
Cuckoo clocks and cheese no match for iThings
Apple has achieved a record-breaking market capitalisation of $700bn - making it more valuable than Switzerland.
The cash-laden fruity firm has now become the most expensive company in human history, after its stock rose to a high of $119.75 yesterday.
At its peak during trading yesterday, Apple reached a market cap of $703bn, before dipping slightly to end the day to a pathetic $690bn.
Switzerland, on the other hand, has a GDP of about $650bn, according to figures from the World Bank.
If you wanted to blow the entire $700bn, you could buy 538,876,058 basic models of the Macbook Pro with Retina screen, at $1,299 per unit. You could then build a pile of them which would stretch about 10,000 miles high, although balancing it might be difficult.
According to one analyst, Apple's competitors are so lacklustre that Christmas at Cupertino will be nothing less than bountiful.
“Given Apple’s significant portfolio refresh over the past three months, the lack of innovation from competitors, and a constructive spending backdrop in the US market, we believe Apple has opportunity to shine bright this holiday season,” said Brian White, an analyst at Cantor Fitzgerald.
In response to the news that Apple is the biggest company of all time, one reader wrote this plaintive tweet:
Well, this reporter has got to the end of a piece without using that phrase. Dare we hope the sub-editors can resist using it in a headline? ®
(Not a Peak Apple in sight... We must have reached Peak Peak Apple at last – Sub-Vultures)