One for the History Books- Apple is now Worth $800 Billion
Overview
The Apple brand has cemented its place in the history book as one of the most innovative companies of our lifetime. The tech landscape was forever changed when headlines revealed that Apple is now worth $800 billion.
Founded in 1976, Apple, which designs, develops and sells consumer electronics, tops the list of top tech brands to invest in for 2017. The company is renowned for pioneering a range of sleek, seamless technological gadgets as well as for transforming the cellular industry with the introduction of the iPhone.
As of 2017, the Silicon Valley tech giant has become the world’s largest publicly traded company. It has also made history by becoming the first company worth $800 billion.
According to experts, if Apple continues on its growth path, the company will top the $1 trillion market cap level this year.
With 5.214 billion shares on the market, Apple shares have increased by 3.05% this year.
There are a range of factors that are pushing investors even higher.
Why Apple is now worth $800 billion
Analyst Brian White of investment firm Drexel Hamilton said that Apple’s “valuation has been depressed for years as investors grew concerned that Apple would fall victim to the missteps of consumer electronic companies of the past”.
He added that Apple “has proven its resilience through its unique ability to develop hardware, software and services that work seamlessly together”.
Even though Microsoft continues to dominate the computer operating systems market – more so in countries outside of the US – Apple continues to demolish competitors in the gadget sector.
The most popular smartphone, the iPhone, continues to cement its popularity within African markets. Mac laptops are also fast gaining popularity, especially due to many African industries working on par with international standards. Penetration into the African market is expected to flourish in the near future, as the use of smartphone technology increases.
Warren Buffett’s Berkshire Hathaway owns a stake of roughly $80 billion in Apple. The company’s market value far exceeds that of its closest rivals, Alphabet, parent company of Google ($653 billion) while Microsoft’s market value stands at $532 billion.
