[HM:251064] Apple is now bigger than Microsoft and Google combined - and worth more than the gross domestic product of Sweden

 

Apple is now bigger than Microsoft and Google combined - and worth more than the gross domestic product of Sweden

 

Apple CEO Tim Cook: Apple's stock has soared to a market capitalisation of $460 billion this week, buoyed by results and rumours of new products. The company is now worth more than the entire U.S. gold reserve

Apple's stock has soared to a market capitalisation of $460 billion this week, buoyed by impressive results and rumours of new products around the corner.

The tech giant's stock is worth more than the market capitalisations of rivals Google ($196.8bn)  and Microsoft ($256.1bn) combined.

Apple's profits recently passed $1 billion a week and the company now sells a million iPhones a day.

Apple's market capitalisation only overtook Microsoft's in May 2010.

Fortune magazine also pointed out the worthy statistics that Apple's stock is worth more than the gross domestic product of Sweden - $458 billion.

Apple is worth more than all the gold in the American Federal Reserve - $350 billion, by Fortune's reckoning - and all the illegal drugs in the world, $321 billion.

'It comes soon after Apple reported its best quarter ever, earning $13.06 billion,' says Apple Insider, which pointed out the milestone comparison with the company's rivals.

'Google's shares fell more than 9 percent last month after the company missed expectations on Wall Street for both earnings and revenue. And while Microsoft met Wall Street expectations, revenue from its Windows operating system fell 6 percent to $4.74 billion.'

It sold 37.04million iPhones - its flagship product - and 15.43million iPad tablets, doubling from a year earlier.

 

That helped swell its war chest of cash and securities to almost $100billion - more than enough to plug December's U.S. budget deficit.

Apple's iPhone business is now bigger than the whole of Microsoft, according to recent revenue figures.

The company's smartphone division generated $24.4 billion of revenue in the quarter up until December, whereas the whole of Microsoft generated $20.9 billion in the same quarter.

That includes entertainment devices such as Xbox, as well as Windows, Microsoft Office and Windows Phone.

 

 

 

 

 

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