Apple joins the exclusive $500bn club
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It has recently been updated that Apple has joined the elite group of companies with $500 billion equity valuation. Along with this report it is also expected that Apple is to launch the next version of iPad by next week.
On Tuesday Apple’s shares rose by 2 percent to reach $535.41, lifting its equity value to $504 billion. This year Apple’s shares have already been raised by 32 percent which also extends the company’s gain over the past 10 years to 4500 percent. Currently Apple is the world’s most valuable company and is being valued at about $90 billion which is even more than ExxonMobil.
Apple has called for a Media event next week on Wednesday, which is mostly speculated as the company could pay its first dividend. There might also be a surprise with their latest iPad. This new tablet is expected to put Apple to new heights of describing touchscreen tablet computers. It is said to have been created by technical advances that include a higher resolution screen, faster chips and possibly, connection to the latest high-speed 4G networks.
Currently, Apple’s market Capitalization is about $499 billion and it is about the sum of the other three companies who had earlier passed the $500bn market capitalization. The other three technology companies are Microsoft, Intel and Cisco. These companies had reached their peak values in 1999-2000 when the market was under dotcom boom. Other then these companies ExxonMobil and General Electric are the only two companies to pass the $500 billion mark.