News: Apple Worth More Than Some Countries

Posted on January 20, 2012

Apple’s market cap has been growing quite a bit over the past couple of years—everyone knows this—and it has been neck-and-neck with Exxon Mobil, and the world’s most valuable technology company. Still, by hitting a record-high market cap of $400 billion yesterday, Apple is worth more than some countries.

CNNMoney reports:

Apple’s market cap is higher than the gross domestic product of Greece, Austria, Argentina, or South Africa. (For more comparisons, check out this excellent blog: Things Apple is Worth More Than.)

Despite its size, Apple is still one of the fastest growing technology companies. The company will report its finances for the past quarter next week, and analysts expect Apple to announce that its sales grew by 45% compared to last year, according to a survey conducted by Thomson Reuters.

When we were using Titanium PowerBook G4s and iMacs with CRTs, things were just a bit different:

Apple’s growth is a stunning achievement for a 35-year old company that had a market cap of just $10 billion a decade ago.

The company’s turnaround began with the launch of the iPod, and growth really skyrocketed after the iPhone’s release in 2007. Apple is forecast to have sold a record 30 million iPhones last quarter, following the launch of the iPhone 4S in October.

Looks like there was something to that iPod halo effect…thanks, SchwarzTech in 2004.

This post has been filed in News