Another day, another reminder of how ridiculously successful Apple is. Not only did the company manage to outsell the largest smartphone manufacturer in the world and achieve record-breaking profits last quarter, it has now become the most valuable company ever to exist with a valuation of more than $710 billion. At this rate, Apple will become the world’s first trillion dollar company in no time.
Apple has been enjoying a stellar start to 2014 where the company has put to an end doubts about its dominance. The company sold as many smartphones as Samsung last quarter, recorded the most profitable three months in history, and saw just about everyone give it a good old pat on the back. The celebration is not over for Cupertino though as it became the most valuable company in history this week. The company’s shares closed Tuesday as $122.02, which means that the market capitalization of Apple values the brand at more than $700 billion. Wall Street is now saying that Apple is worth $710.7 billion, making it the first company to ever crack that magic $700 billion mark. It is also significantly more than the current second place company could manage.
TECHi weighs both sides before reaching a conclusion.
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