Apple passes Google in stock market cap
Apple on Wednesday reached another milestone in its stock trading history when it passed Google's market capitalization, or the total value of the company's shares.
Although the asking price per Apple share on the New York Stock Exchange ended the day at just $179.30 versus Google's $500.03, the former's sheer trading volume -- nearly 30.1 million shares versus Google's 3.6 million -- gave the Mac maker's stock a total worth of over $158.8 billion compared to the search engine pioneer's $157.2 billion.
Apple's success in the past few years has seen its stock prices increase dramatically in the past few years, particularly after the company's switch to Intel processors in Macs and the run-up to the launch of the first iPhone.
Company chief Steve Jobs notoriously mentioned in January 2006 that Apple had overtaken Dell's market cap nine years after Michael Dell had suggested he would have closed down a then-ailing Apple rather than try to solve its problems.
Although the asking price per Apple share on the New York Stock Exchange ended the day at just $179.30 versus Google's $500.03, the former's sheer trading volume -- nearly 30.1 million shares versus Google's 3.6 million -- gave the Mac maker's stock a total worth of over $158.8 billion compared to the search engine pioneer's $157.2 billion.
Apple's success in the past few years has seen its stock prices increase dramatically in the past few years, particularly after the company's switch to Intel processors in Macs and the run-up to the launch of the first iPhone.
Company chief Steve Jobs notoriously mentioned in January 2006 that Apple had overtaken Dell's market cap nine years after Michael Dell had suggested he would have closed down a then-ailing Apple rather than try to solve its problems.
Comments
Besides the fact that they might eventually be competing in the phone space, it's like comparing Apple to a sugar company in my view.
In another year or two, APPL's market cap will surpass that of MSFT, which is now about $255B, down from more than double that.
Now that will be met with stunned silence in some quarters!
Now that will be met with stunned silence in some quarters!
It also won't happen.
It also won't happen.
I think you will be surprised. I will pull you up on this post in 3 years ireland