I recently penned Seven reasons to love being Tim Cook right now, and the good news for Apple just keeps coming.
The latest trophy in the cabinet is ‘First US Company Valued Above $700 Billion’, just an inconceivably high figure. Seven. Hundred. Billion.
To help us digest the numbers, The Wall Street Journal tells us how Apple’s value compares to that of other companies. Yeah, that’ll help!
At $710.74 billion (I don't mind taking that $0.74 billion if you want to call it an even 710), Apple is valued at 2x Google, 2.5x Walmart, 4x Bank of America, 8x McDonald’s, 12x GM, and 24x Twitter.
This comes hot on the heels of Apple having the best quarter of anyone in any industry ever, snatching the title from some Russian oil guys.
Apple recently became number one in China, and CEO Tim Cook says the notion that Chinese consumers aren’t interested in high-end wallet-punching products is “bull”. Clearly.
Cook also dismissed “the law of large numbers”, the concept that growth inevitably slows as a company gets bigger, as “dogma”. Heck, he seems to know what he's doing.
Amusingly, just a few years ago, various analysts were predicting doom and gloom for Team Cupertino, partly on account of the passing of Steve Jobs, and the supposed inability of Apple to “innovate” under new CEO Tim Cook. Well, Cook has certainly proven them wrong – and then some.