Fidelity bank banner UBA banner
Apple sets record with market value over $900 billion

By Barry Eitel, San Francisco on 09/11/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 875

•Apple Headquarters
•Apple Headquarters

The market capitalisation of Apple on Wednesday closed above $900 billion, making it the first publically traded company in the United States to do so.

Shares of Apple have sent the company’s market cap briefly above $900 billion before, but Wednesday marked the first time Apple finished the day above that figure.

Apple’s stock rose only 0.82 percent during trading, closing at $176.24. However, that was enough to send its market value to $904.87 billion.

Apple’s stock was boosted by a quarterly earnings report released last week that bested analyst expectations and the successful launch of its new flagship smartphone, the iPhone X, last Friday. The company also said during its earnings call that it expected to have a very profitable holiday season.

Apple set a revenue forecast of $84 billion for the upcoming quarter, which would be a record high for the company.

The stock has increased 52.6 percent over the course of 2017, with some analysts believing that Apple will soon be the first trillion dollar company.

“Apple – a trillion dollar company?” tweeted business analyst Aaron Heslehurst. “Apple’s share price needs to rise by about another 10% for it to have a market value of $1 trillion.”

Over 60 percent of the company’s market value has been added since its co-founder and legendary chief executive Steve Jobs died in 2011. Although the company has not released many new product lines since Jobs’ passing, with the notable exception of the Apple Watch, it appears the continued popularity of the iPhone has lifted Apple to new heights under the leadership of current CEO Tim Cook.

Apple’s rival, Alphabet is the next most valuable publically traded company, but it is lagging behind the iPhone maker on the race to a $1 trillion value. Shares of Alphabet closed Wednesday at $1,058.29, leaving the company with a market cap of $728.6 billion. (Anadolu Agency)

Source News Express

Posted 09/11/2017 2:23:24 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Reps on retreat to rejig constitution

FG suspends 2 VCs over alleged N956m fraud...

BREAKING NEWS: Thousands of policemen, officers protest non-payment...

CBN disburses N109.3 billion towards improved power supply...

World Bank to provide support for Nigeria’s economic...

Flood: NEMA places disaster response units on red...

Lagos serves contravention notice to owners of illegal...

Ex-Abia Speaker chronicles achievements

Trump writes African leaders

Supreme Court verdict on PDP leadership crisis can...

Senate observes a minute silence for victims of...

Police dispels rumours of bomb attack in Sokoto...

 

Latest News BREAKING: Ex-Ohanaeze President Dozie Ikedife is dead Something is wrong with the leadership of the Nigerian Army: Ex-British Police Officer Liverpool, Spurs, PSG squeeze into Champions League Last 16; Napoli, Inter out Explosion rocks Umuahia Catholic Church Atiku, Ezekwesili absent as Buhari and other candidates sign Peace Accord Party Chairmen protest during signing of peace accord, allege deceit I wasn’t invited to Peace Accord meeting: Atiku South East activists hold special session, warn against scientific rigging of 2019 elections Okowa, Aisha Buhari call for sensitisation on gender streaming, advocate a re-engineering of the civil service PDP to Buhari: Stop shielding corrupt relatives Gunmen hijack 18-seater passenger bus in Rivers Police receive 104,289 applications for 10,000 jobs

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (429,705 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (394,714 views) Shameless Genevieve Nnaji exposes breasts in public (327,603 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (280,927 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (247,761 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,214 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (212,028 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,237 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (179,520 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,389 views) Lagos plane crash: Journalist releases victims’ names (167,184 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (153,662 views)

 

Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (76) Business & Economy (3,874) Business Verdict (54) Columnists (972) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (679) Global Business Monitor (311) International (2,807) Interview (167) Live Commentary (28) Love Matters (146) Maggie's Blog (69) News (41,353) Opinion (1,150) Pidgin (13) Politics (8,130) Religion (911) Sports (1,817) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera