Discover the secrets behind Apple market cap surpassing all but 6 global economies. As a result, Apple stock broke new all-time highs this week, bringing its market capitalization back over $3 trillion.
In Friday’s trading, Apple market cap was valued at .066 trillion, with shares falling 0.4% to 7.27. In other words, it is worth more than all but six of the world’s biggest economies combined.
According to 2022 GDP data from the World Bank, the countries that are bigger than the iPhone maker’s market cap include the US at the top (.5 trillion), China ( trillion), Japan (.2 trillion), Germany (.07 trillion), India (.4 trillion), and the United Kingdom (.07 trillion).
In terms of GDP, France has a GDP of approximately .78 trillion, and Russia has a GDP of about .24 trillion.
Apple’s market cap is also approaching that of the entire Paris stock market, which hovers around .2 trillion and is dominated by luxury goods manufacturers LVMH and Hermes.
Even though Apple’s stock has gained 55% so far this year, it only regained the trillion mark this month. The Fed’s meeting on Wednesday, when policymakers signaled that three rate cuts could be made in 2024, sparked a huge rally in the stock market.
For the fifth year in a row, Apple is on track to end the year as the most valuable company in the world, beating the S&P 500 index and other major benchmarks.
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