Apple’s Market Cap Hits $600 Billion
With the broader market in decline, shares in the company rose to a new 52-week high this morning: $644. And that jump was enough to carry Apple’s market cap across the $600 billion threshold. This just about a month after the company reached the $500 billion mark.
Apple is the second company ever with a market cap to reach such stratospheric levels. The first: Microsoft, which nabbed a $604 billion market capitalization in December of 1999.
Apple’s market capitalization is now the largest in the world by far, dwarfing even that of oil juggernaut Exxon Mobil, which held that title for ages. And, as I’ve written before, a $1 trillion market cap seems less outrageous every day.