Apple set a record by becoming the first company to be valued at $700bn (£446bn). The iPhone maker was already the world’s most valuable business, but in early trading its shares rose nearly 1% to $119.75, giving it a market capitalisation of $701.7bn. This is higher than the GDP of all but the top 19 countries in the world.
Apple’s shares have risen around 60% this year, with the success of its iPhone 6 and iPhone 6 Plus one of the main reasons behind the surge. Last month it announced that it had sold a record 39.3m iPhones in its third quarter, and predicted that its latest products would help it boost sales by at least 10% over the forthcoming holiday period. It expects to sell more in the Christmas quarter this year than it did in the whole of 2010.
Read full story Apple becomes first company worth $700bn
No comments:
Post a Comment