Title: At $500 billion, Apple is worth more than Poland (Technology)
Author: David Goldman
Source: Cnn.com
On Wednesday 2/29/12, Apple hit a record high market value of $500 billion. At this point, it has become one of the top five most valuable companies ever, surpassed only by Microsoft, ExxonMobil, Cisco, General Electric, and Intel. Not only is Apple's valuation is now higher than the gross domestic product of Poland, but it is also greater than the gross domestic product of Belgium, Sweden, Saudi Arabia, or Taiwan. Apple is considered one of the fastest growing technology companies, even though it has already outgrown most companies. The sales have grown approximately 73% since last year, with shares hitting a first-time high of $500. The company has been around for 35 years, but just 10 years ago, it had a market cap of only $10 billion.
Apple's growth is incredible not only incredible in comparison to other technology companies, but it is also incredible in comparison to many other companies. Apple has grown to be worth more than things such as the entire construction of the interstate highway system, or the united states aircraft carrier fleet.
I think that it is amazing how fast it is growing and that it grew ~73% this year. I still can't believe that is is worth more than the countries of Poland, Sweden, Saudi Arabis, or Taiwan. Also it is amazing to think that one company can make so much money in only 35 years.
ReplyDeleteI think it's incredible that Apple is worth more than a whole country such as Poland or Sweden. I knew that Apple had grown tremendously in the past ten years just by seeing it in my own community, but comparing its worth to the entire United States aircraft carrier fleet puts it into a different perspective. If the sales have grown 73% in the past year alone, I can't imagine what will happen to the company in the next ten years.
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