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Apple Market Value Reaches $500 Billion – Milestone Where Few Have Gone

Thursday, March 1st, 2012 at 7:43 am , filed under Tech News by

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"Apple Market Value Reaches $500 Billion"Apple the giant has strike the world once again with its Market Value that hits $500 billion on Wednesday. Apple’s $500 billion is a place, where not many have gone nor managed to stay for long.

As you are aware – Apple is already the most valuable Company in the world and the gap between it and the No.2 Exxon persists to widen rapidly in the past couple of month, as investors jump on the bandwagon of the Cupertino’s giant latest holiday success and attracted investors’ hopes by the chances of Apple instituting a dividend.

Quite fascinatingly, Wednesday’s milestone makes the Cupertino California Company as the sixth US Corporation to have reached the $500 billion milestone and the only one to be worth that much at present prices.

In late-morning Apple’s market capitalization was near $506 billion trading as the shares rose to $7, or 1.3 percent, to $542.41.This stock jump comes just a day after the Company sent out invitations for its third generation iPad event scheduled to take place on March 7th, next Wednesday.

Exxon, now worth $411 billion and had reached the $500 billion milestone for two brief periods in 2007. While, the Software Giant (Microsoft) had reached the $500 billion milestone twice up to date – once in 1999 and again in early 2000, although is currently worth at $267 billion.

On the other hand, Companies Intel, GE and Cisco had also hit the $500 billion milestone in early 2000 with Intel and Cisco currently worth a little over $100 billion each, whereas GE is worth about $200 billion.

Apple’s rise, by contrast, is powered by its mammoth sales and profits that are growing at rates unheard of for a company its size. And despite its sky-high market capitalization, Apple’s shares aren’t expensive compared to its earnings.

Stay connected with us to know latest updates on Apple, the Giant!

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