The whopping figure breaks records, and dethrones leading industries in the Apple 800 billion dollar market cap.
Apple is the first American company to top a market cap of $800bn (£617bn).
Additionally, experts also herald it as the world’s most valuable company after earnings.
Cofounded by the legendary Steve Jobs, the American computer technology company continues to fulfil its role as one of the best suppliers of communication devices.
Its financial success comes in line with the upcoming 10-year anniversary of the first iPhone. To celebrate, Apple will release three new highly anticipated models.
Additionally, the corporation’s shares have improved by 33% this year, facilitated in part through buybacks.
Apple 800 billion dollar performance raises eyebrows
As such, the multinational company is optimistic that its market performance will continue to impress the socks off of everyone.
Or rather, a certain someone.
The esteemed Warren Buffet of Berkshire Hathaway is apparently quite taken away with Apple’s iconic phone. He recently commented that the iPhone is “a very, very, very, valuable product.”
No doubt such an endorsement from the world’s most notable investor will continue to bolster shares.
However, Apple’s recent market performance has far-reaching implications.
Consequently, it’s at the top of the world’s biggest equity market. Thus, its success highlights the growth of the mobile technology industry.
Millions in mobiles
Furthermore, its positioning also serves to topple the reign of the oil industry, which traditionally dominated the stock market.
After Apple releases its three new iPhones later this year, pundits predict that it could become a trillion dollar company.
While the oil industry is experiencing a stage of decline in comparison with the tech industry, it still casts an intimidating shadow.
As such, the first global company to achieve a market cap of $1 trillion was PetroChina, in 2007.
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