business

Apple pips Microsoft to become World’s most valuable company

Apple, the company that made iPhone, Mac, has again become the world’s largest company after two months. It has left behind rival tech companies such as Amazon and Microsoft.

Apple’s Market cap crosses Rs 58 lakh crore

Apple’s market cap rose to Rs 58.29 lakh crore ($ 82.18 billion). Microsoft’s market cap is Rs 58.14 lakh crore ($ 81 billion). Amazon is third with 57.93 lakh crores (81,600 million dollars). To put Apple’s worth in perspective, it has enough money to buy 89 nations in the world.

First to cross trillion dollars in August

On August 2, 2018, Apple became the world’s first one million million dollars (approximately 68,620 billion) company. Apple co-founder Steve Jobs launched it in 1976 in a garage. Tim Cook is the head of the company since his death in 2011. The stock market value of the company is more than the combined capital of Exxon Mobil, Procter & Gamble and AT & T.

America’s legendary online shopping company Amazon had become the world’s second largest company on September 4, 2018,becoming the second company to reach the trillion dollars mark. Apple’s Silicon Valley gained the distinction of being the first company in the world to do just one month earlier. Amazon, based in Seattle, started with its owner Jeff Bezos selling books in the beginning. Bezos is also the owner of The Washington Post, a reputable US newspaper.

Amazon, which has attracted millions of consumers across the world for online shopping, has emerged as a big FDI investor in India too. This year, Amazon’s shares alone jumped 75 percent in the stock market and raised the company’s market capitalization by about $ 435 billion.

These company may be ahead than Apple in 2019

In 2019 Saudi Arabia’s oil company Armaco is considering bringing its IPO. If Armaco brings its IPO and it is listed in the American stock market then its market cap will go much further than Apple.
As much as Apple has today’s market cap, it can buy 89 countries of the world. Microsoft retreated Apple to second spot in November and became the highest value company. It happened after 16 years. But, in January Amazon left Microsoft behind.

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