Apple now worth as much as all euro zone banks
With a sharp selloff pummeling share prices throughout European banking sector this week, Apple's valuation is now strikingly equal to all 32 of the biggest euro zone banks combined.
That's the result of the DJ STOXX euro zone banks index bleeding a third of its value since the start of July, driven by sharp declines in the share price of big banks such as Spain's Santander, France's BNP Paribas, Germany's Deutsche Bank and Italy's Unicredit.
The index fell another 4 percent on Friday, dropping the combined value of its 32 members to $340 billion. That's precisely the market capitalization that Apple has soared to in recent months on the success of its iPhone and iPad devices.
For Apple, the accolade is just the latest in a growing string of financial related achievements. In addition to its back-and-forth battle with Exxon Mobile for the title of the most valuable company in the world, it was disclosed last month the the iPad maker's $76B in cash reserves recently surpassed the US government's own operating balance.
Back in June, it was also estimated that Apple's then war chest of $70 billion would have been enough to potential buy out rivals Nokia, Research in Motion, HTC and Motorola.
That's the result of the DJ STOXX euro zone banks index bleeding a third of its value since the start of July, driven by sharp declines in the share price of big banks such as Spain's Santander, France's BNP Paribas, Germany's Deutsche Bank and Italy's Unicredit.
The index fell another 4 percent on Friday, dropping the combined value of its 32 members to $340 billion. That's precisely the market capitalization that Apple has soared to in recent months on the success of its iPhone and iPad devices.
For Apple, the accolade is just the latest in a growing string of financial related achievements. In addition to its back-and-forth battle with Exxon Mobile for the title of the most valuable company in the world, it was disclosed last month the the iPad maker's $76B in cash reserves recently surpassed the US government's own operating balance.
Back in June, it was also estimated that Apple's then war chest of $70 billion would have been enough to potential buy out rivals Nokia, Research in Motion, HTC and Motorola.
Comments
If Samsung is shut out of Europe and elsewhere.
Also, HTC might start giving up on Android
Android might have to look a little different to the others if Oracle gets their way.
HP/Palm are going down in flames.
Microsoft/Nokia will probably only have one shot to prove themselves capable.
PS. You STILL haven't gotten it right - it's $340 BILLION not million !!
Nice job on deleting the responses which pointed out your article's original mistake - censorship kings.
PS. You STILL haven't gotten it right - it's $340 BILLION not million !!
Yeah, my thoughts exactly... $340,000,000 is 1/223 of the CASH on Apple's balance sheet ($76B).
are these stories really necessary anymore? i think we get the point, apple is a very successful company.
Don't care
are these stories really necessary anymore? i think we get the point, apple is a very successful company.
It makes for fun chatter in otherwise gloomy financial news though. I certainly hope Apple doesn't go into banking like GE did, look at GE's balance sheet!
Good heavens, I've met people worth $340 million!
are these stories really necessary anymore? i think we get the point, apple is a very successful company.
Having grown up with Apple over a nearly three-decade period when "Apple is doomed?" was the mantra, I love these stories.
If you don't like them, go somewhere else.
Thanks, AI!
Why do readers get so bent out of shape over a silly typo?
Having grown up with Apple over a nearly three-decade period when "Apple is doomed?" was the mantra, I love these stories.
If you don't like them, go somewhere else.
Thanks, AI!
agreed
Morons and other pathetic people have long been speaking of and wishing for Apple's demise. These clueless people are probably more bitter than ever now, because of Apple's amazing, but well deserved success.
are these stories really necessary anymore? i think we get the point, apple is a very successful company.
Absolutely, if for no other reason than to offset the various trolls who seem to live here. Isn't there a site somewhere for these troll to gather .... other than an Apple fan site?
Mind you, I guess it would be pretty depressing to hang out on those sites for any length of time.
Mind you, I guess it would be pretty depressing to hang out on those sites for any length of time.
Why do you think they're here?
what is this obsession to compare Apple with every single company or bank or goverment in the world? Stop this madness.
If you had read the thread (you didn't, obviously), you'd know why Apple being rich as peas is a big deal.
what is this obsession to compare Apple with every single company or bank or goverment in the world? Stop this madness.
I say FUCK**OFF u fandroids..........