Apple's market value hits $600bn

 

Apple Inc.

Last Updated at 24 Dec 2014, 13:00 ET Apple Inc. twelve month chart
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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.

 

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  • rate this
    +1

    Comment number 120.

    ...and when the competition finds a new craze for the cyber generation these shares will drop like windfall Apples..

  • rate this
    0

    Comment number 119.

    @dungolfin

    Another fallacy from a fan boy. As previously stated, I only use Macs and other Apple products because I prefer them, not because they are better than pc's etc. or I think Steve Jobs was God. Just a company, no more no less.

    Every single one of Apple's products did exist before (shock, horror). Mp3 players, smart phone, tablets. Just very good at marketing/design.

    Alienware pc's?

  • rate this
    +1

    Comment number 118.

    114.Amster

    "...What's with the imbeciles voting down comments that actually make sense..."

    ===

    Not many are saying Apple has poor products.

    They simply question the wisdom of putting one's daughter on the street to buy shares in it.

  • rate this
    +2

    Comment number 117.

    Great products, but would be surprised if they are the future as they still don't get used in many businesses. Android etc. could well dominate in time.
    Would be nice to see them doing the decent thing and pay some tax from their earnings rather than using their power to hive off cash overseas and pay virtually no tax. The reason they are so wealthy as a company is because the kit is so expensive!

  • rate this
    +3

    Comment number 116.

    #114
    Everyone's a winner now..
    -----------
    Except the poor sods being paid 40p per hour to make the stuff perhaps?

  • rate this
    +4

    Comment number 115.

    My brother had a whole bunch of Apple shares he sold to buy a brand new kitchen.

    I don't think I'm allowed to bring that topic up any more.

  • rate this
    0

    Comment number 114.

    What's with the imbeciles voting down comments that actually make sense. Apple turned around the smartphone market dummies! They actually forced competition to another level. They brought the coming together of various technologies into a single unit and marketed it well. Before that you had the Nokia 9210 communicator and the bulky XDA's. Get it straight wannabe techies. Everyone's a winner now..

  • rate this
    -1

    Comment number 113.

    Don't really like Apple stuff. They're basically overpriced, overhyped techo fashion for poseurs. I also hate touch screens. Less about stable operating systems more about showing of the LED Apple Logo to the squares with Android phones and PC Laptops.

    http://www.youtube.com/watch?v=r9zu_keRZ90&feature=g-like&context=G2ace392ALT2IJ3gAdAA

  • rate this
    +1

    Comment number 112.

    not party to any purchases of this company - can`t be bothered chasing latest gizmos. Got better things to do with my life than wander round looking at a little screen. Anybody see recent footage of the human cost in China of Apples success? - not a pretty sight. Money, money money.... grab, grab, grab.... Time for bed..

  • rate this
    +3

    Comment number 111.

    109.dungolfin

    "...I don't give a monkey's about their share price..."

    ===

    That's the topic.

    If you want to give product reviews go to the technology pages.

  • rate this
    +2

    Comment number 110.

    @AllenT2
    Actually, bit of a fallacy there. I love Apple products, but when it comes to security updates they lag. I rock a jailbroken iphone and the dev's released a patch for an iphone security hole long before Apple released their new "feature", aka "security update". Apple products are great, I don't use anything else, but don't blind yourself, they're just another company.

    ipod best mp3? lol

  • rate this
    -2

    Comment number 109.

    I don't give a monkey's about their share price or about the negative comments on here - I love Apple. They have created or brought to market a whole generation of technology which simply didn't exist before. Their joined up thinking, excellence in design and attention to detail has seen their competition playing catch up year after year. Remember when PC's were all grey boxes? Apple changed that.

  • rate this
    +2

    Comment number 108.

    Hope my pension's spread across more than this.

    If everyone on earth stumped up $100 each we could just buy it...

    Yeah. Quite.

  • rate this
    +2

    Comment number 107.

    It's the same old fools all the time. Regurgitating the same old hogwash all the time. "Remember the Dot Com boom" "When will the bubble burst" "More free advertising on the BBC" "The valuation is all wrong" - god damn armchair dictators! Get out there and make a difference and stop criticising all the time.

  • rate this
    +3

    Comment number 106.

    That graph has too steep a rise this year. Expect a fall.

  • rate this
    +5

    Comment number 105.

    This valuation seems to be based purely on the fact that Apple products are highly fashionable at the moment.

    Thats not a good precedent in the tech world.

    Remember Palm,friends reunited and myspace?

    Fashions can change very quickly, then values plummet overnight.

  • rate this
    +2

    Comment number 104.

    "Jobs co-founded Apple in Silicon Valley in the 1980s"

    No he didn't! Get your facts right - Apple Computer (as it was then) was founded in 1976 (April 1st apparently).

    This is not the first time I have seen this mistake recently on the BBC web site - it's also here: www.bbc.co.uk/news/business-17017289

  • rate this
    -1

    Comment number 103.

    @26. Ian

    So you wouldn't use an Apple product for, oh I don't know, 1 million dollars?(little finger by mouth a la Dr Evil)

    Seriously though, you can't label people fools when you have uttered what is one of the most foolish things on HYS.

    I hate Gucci, D&G, Justin Bieber, & cheese. But, hell, give me £500 and I'll wear a Gucci g-string, D&G cowboy hat and dance to JB in hot cheese. No probs.

  • rate this
    +2

    Comment number 102.

    When a company can successfully market devices to such an extent a kid is willing to sell a kidney for one then it is no surprise share prices will rise.

    But what are they really worth?

  • rate this
    +2

    Comment number 101.

    I applaud Apple for its success, they have produced some exceptional products many of which I own.
    Combining the art of design with elegant software, manufacturing and logistical excellence and an eye for what the consumer wants, they deserve their success.
    One thing I cannot condone however is their tax avoidance which sees them paying a fraction of UK corporation tax due to 'legal' avoidance.

 

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