Apple's market value hits $600bn

 

Apple Inc.

Last Updated at 11 Jul 2014, 16:00 ET Apple Inc. twelve month chart
price change %
95.22 +
+0.19
+
+0.19

Related Stories

Technology giant Apple has surpassed $600bn (£379bn) in value for the first time, affirming its position as the world's most valuable firm.

Apple shares reached a high of $644 on Tuesday, having only just crossed the $500 threshold back in February.

Apple's stock is up almost 60% since the start of the year.

It is another milestone for the iPhone maker, whose shares were worth as little as $3.19 in 1997 when it faced the possibility of bankruptcy.

Rival Microsoft is worth $260bn and in 1999, at the peak of the dotcom boom, reached $619bn in market capitalisation.

There has been some talk that there is another tech boom - and potential bust - under way.

On Monday, Facebook said it will pay $1bn to buy Instagram, the popular photo-sharing smartphone app, which has only 13 employees and was launched in October 2010.

Apple's resurgence

Apple's revival under Steve Jobs, who died last year, came about first in computers and then the iPod music player, which was followed by the iPhone and iPad.

Jobs co-founded Apple in Silicon Valley in the 1970s, but was fired in 1985.

He was asked to rejoin in 1997 and changed the company's product lines, culminating in the success of the iPhone and its tablet spin-off, the iPad.

In January, Apple reported record-breaking net profits for the last three months of 2011. At the end of last year, it revealed it had $97.6bn in cash.

In March, the tech giant under current chief executive Tim Cook said it will use its cash to start paying a dividend to shareholders and to buy back some of its shares.

It expects to use $45bn over the next three years.

 

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

Comments

This entry is now closed for comments

Jump to comments pagination
 
  • rate this
    +1

    Comment number 100.

    I love Macs ... Have only used them for the last decade or so ... But they need to pull their finger out and realise that they are just becoming and behaving like a fashion accessory ... They were really lazy with this last trojan virus scare ... If they don't start pulling their finger out you will soon see their stock prices plummeting

  • rate this
    0

    Comment number 99.

    @the6ftmoose

    Mac side. I imagine a lot of music, movies, and magazines (basically most of the media we consume daily) would take a hit.

    Pc side: banking would be hit hard, so too would government. Maybe a good thing.

    Not much would happen as Mac/pc innards are so similar and they can both do the same things now. Just personal taste.

    Too many losers worked up over preference of tech. Lives?

  • rate this
    0

    Comment number 98.

    Tio
    I wish I had a choice!
    ----------
    Aaaah poor old Tel - you could always join in the fun at the Sky News 'debate' page - you're sort of people...your sort of politics...dim win.

  • rate this
    0

    Comment number 97.

    Products are nice to use, stable, look good, and work. Don't care about their share price/Jobs. All those hating on the unethical, are you sure your other products (clothes, toys, etc) are ethical? Not right, but it's the way it is until people change it, instead of moaning on HYS.
    You can use Mac software on pc's, it's called Hackintosh. Jailbreak anyone? Good tech rules, as Sony used to.

  • rate this
    -1

    Comment number 96.

    Maybe now they have enough money to stop charging so much for their slave-made silicon crap...

    Not that I'm going to buy into the Apple cult - even if they gave the stuff away.

    My Nokia phones does what is needed of it, my Asus netbook too, and my custom-made desktop PC is just dandy.

    Baaah! http://www.youtube.com/watch?v=6XFs5lhrq1s Sheep!

  • rate this
    -1

    Comment number 95.

    There is clear sign of BBC advertising apple. May be all of you who are involved in BBC program making adore apple products But it must be personal not be reflected in its programs Most of the factual programs show apple product at least once in 58 mins but clearly blurs other products logos Why? BBC is a novel organisation for neutrality but for advertising apple it has lost its code of conduct

  • rate this
    +2

    Comment number 94.

    iDon'tCare

  • rate this
    -2

    Comment number 93.

    It goes to show there's no logic in financial markets. Apples shares should be falling with their problems and lack of ideas for new products. Expect a big bump soon.

  • Comment number 92.

    This comment was removed because the moderators found it broke the house rules. Explain.

  • rate this
    -3

    Comment number 91.

    Apple is for people those who are less comfortable with open source software like Linux or hate Windows OS. I personaly think Apple is crap compared to Linux or Windows. It's just a marketing bluff they have introduce to cheat people with nice interfaces. But no offence if you don't need to know how computers work go for it. By the way can't believe BBC opened this topic for commenting!!

  • rate this
    +2

    Comment number 90.

    I feel disgusted that Apple spent so much money on lawsuit for patent protections to eliminate competitors; yet it gave so little benefits and profits back to its workers.

    This is unethical. A company values products, but not people.

  • rate this
    +2

    Comment number 89.

    It's funny the main designer behind some of Apples top products is Jonathan Ive who is from the UK. In a way this looks bad for the UK. But i wish theirs some radical change to the economical and poltical climate where UK is a better environment for companies like ARM holdings to emerge. Maybe we might have some global leading products...

  • rate this
    0

    Comment number 88.

    Technology companies like Apple are vulnerable to a competitor coming up with more cutting edge products - it only takes one slip to get knocked off your perch.

    A corporate success story but fundamentally worth more than ExxonMobil or Shell with their absolutely massive cash flows - I don't think so !

  • rate this
    +1

    Comment number 87.

    I-Phone 5-S

    (Another £500 Suckers) +Vat

    Ah well, at least it listens with out giving lipp.

  • rate this
    0

    Comment number 86.

    Back in the 19th C there were skilled technicians with some musical knowledge who repined the drums on musical boxes. Strangely, there is not a single example of a piece of notable music composed by a musical box repinner. Much the same can be said of the current generation of digital geeks and the technocrap they produce - their products owe more to semiconductor physics than skill in design!

  • Comment number 85.

    All this user's posts have been removed.Why?

  • rate this
    -1

    Comment number 84.

    To describe Apple as a company of supreme arrogance is an understatement. People are getting wise to this and their bubble will eventually burst. Other organisations have remarkably similar products without absurd terms and conditions being forced upon the consumer at an outrageous price.

  • rate this
    0

    Comment number 83.

    Very disappointed that despite paying the full Television Tax that the only HYS I am allowed to comment on is this one. Why, having come home from work, am I restricted to this subject? Why cannot I have the chance to comment on other subjects? BBC you are failing your captive supporters. I wish I had a choice!

  • rate this
    0

    Comment number 82.

    It would have been even more if someone hadn't taken a bite out of the apple.

  • rate this
    +6

    Comment number 81.

    Hardly a day goes by without the Beeb advertising on Apples behalf. Come on now! This is getting beyond ridiculous!!!!! Hell, a week ago they had a 'BREAKING NEWS' on some pointless story... I think Apple needs to start paying some of my licence fee back now.

 

Page 4 of 8

 

More Business stories

RSS

Features

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.