7 Tweets That Put Apple's Record $700 Billion Value In Perspective
CUPERTINO (CBS SF) - Apple Inc. has hit a new benchmark for company value, closing the market $700 Billion market capitalization.
The Cupertino-based company had twice passed the mark during midday trading in the past, but became the first American company ever to close the day when they hit a $122.02 closing price Tuesday.
Twitter lit up with the news, with several people pointing out just how far things have come since 1976. Here are a few of the most head-spinning numbers:
When Steve Jobs unveiled the iPhone eight years ago, Apple had a market value of $76 billion. Today: $710.7 billion http://t.co/VdyhfPJGwH
— Sudeep Reddy (@Reddy) February 10, 2015
This is crazy! "@LesliePicker: Apple is valued at more than $700 billion, making it bigger than the GDP of 90% of the world's economies"
— Gabriel Gonzalez (@GabrielGonzalez) February 10, 2015
Since Apple's IPO in December 1980, market value has risen 50,600% http://t.co/uUdfFPFoyG pic.twitter.com/F4eulgzJkU
— Michelle Coffey (@m_cof) February 10, 2015
Apple total valuation today is worth a bit more than 1/3 of Canada's GDP. That's a lot of iPhones
— Victor Neufeld (@neubrant) February 10, 2015
WSJ: Apple's market value is nearly double each of the next three largest companies on the S&P 500 index. http://t.co/qbMZYlE17n $AAPL
— Jonathan Farrell (@companyEEB) February 10, 2015
AAPL BOOM:
— Matt Phillips (@MatthewPhillips) February 10, 2015
Apple just became the first $700 billion company. Ever. http://t.co/THwwMnaA6w pic.twitter.com/VzX0P15UYe
Apple's now worth twice as much as when CEO Tim Cook took over for Steve Jobs in August of 2011.
As recently as 2013, the company was battling Exxon for title of the "Most Valuable Company," but Apple is now more than $300 billion in the lead.