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Apple Becomes First US Company To Top $800 Billion Value (bloomberg.com)

Posted by BeauHD on from the first-of-its-kind dept.

According to Bloomberg, "Apple became the first U.S. company with a market value of more than $800 billion as investors bet the next iPhone will spur a resurgence in sales." From the report: The stock rose 1 percent Tuesday to close at $153.99 in New York, giving it a market capitalization of about $803 billion. The shares have gained 33 percent since the start of the year, helped by a buyback program that Chief Executive Officer Tim Cook extended to total $210 billion last week, from $175 billion last year. Apple's rise to the top of the world's largest equity market highlights the emergence of mobile technology and the relative decline of the oil industry in recent years. Exxon Mobil Corp.'s value peaked in the fall of 2007, when oil prices climbed toward $100 a barrel. In November of that year, PetroChina Co. briefly became the first global company with a market capitalization of more than $1 trillion. Apple's revenue grew in the most recent fiscal quarter even as iPhone unit sales fell.

75 comments

  1. So? by Anonymous Coward · · Score: 1

    turn down for BUTT!

    #MAGA

    1. Re: So? by Anonymous Coward · · Score: 0

      The more expensive the Corp, the more faggy shitty junk it makes.

  2. Oh by Anonymous Coward · · Score: 0

    That must explain why they are completely incapable of updating their Mac mini: they don't have enough money.

    Hell the 2014 "update" was a step backwards. How is it a low-cost Mac if you need to buy 16GB RAM from Apple right at the beginning?

    1. Re:Oh by Anonymous Coward · · Score: 0

      I think you have cause and effect reversed. They know exactly what they're doing: they didn't update the Mac mini (or pro, or put more than 16 GB in the MBP) because it saved them tons of cash. Sure, these savings are piddly compared to the JesusPhone profits. But it's this mentality, combined with a complete lack of direction or inspiration (and a touch of Jony Ive having way too much power), that gives us no new updates or plain old EOL on what used to be good product lines.

    2. Re:Oh by DontBeAMoran · · Score: 1

      (and a touch of Jony Ive having way too much power)

      It's more than a touch, he's in charge of hardware design from top to bottom. And since he likes thin and hates ports, we only get crap products.

      --
      #DeleteFacebook
    3. Re: Oh by Anonymous Coward · · Score: 0

      He likes hairy Brown ports..

    4. Re: Oh by Anonymous Coward · · Score: 0

      ...one being Tim Cock's butthole

    5. Re: Oh by Anonymous Coward · · Score: 0

      That's ehat happens when users are perfectly fine without modern hardware.

      Took 3 iterations to finally add a ducking flash to their camera... 2 more for NFC... Etcetc.

    6. Re:Oh by TheFakeTimCook · · Score: 1

      (and a touch of Jony Ive having way too much power)

      It's more than a touch, he's in charge of hardware design from top to bottom. And since he likes thin and hates ports, we only get crap products.

      So THAT's why the top 5 laptop companies ALL crow about being able to shave another 0.1 mm off their laptops' thickness! Jony Ive is secretly working at all of those companies! Simultaneously!

      And that's why the 2016 15" MacBook Pro has significantly more raw I/O bandwidth (80 Gbps) of any laptop, as well as the hands-down most flexible I/O of any laptop: Because Jony Ive "Hates Ports"...

  3. Sell it short by Anonymous Coward · · Score: 0

    Macbook Pro isn't changing.

    iPhone lags the competitors.

    Apple watch sales are tanking.

    Cue the short-sellers...

  4. Doomed!!! by Anonymous Coward · · Score: 0

    Nowhere to go but down now bwuahahaha.

    1. Re: Doomed!!! by Anonymous Coward · · Score: 0

      Fillowed by up and then down and then up and then down.. its the stock market son.

  5. Amazing, and they cant build a server by bchickens · · Score: 2, Interesting

    Just amazes me how well they do when they completely ignore business needs. No servers, No way to run virtual machines on a PC, and a MAC cant hold more than like 2 or 3... The fact that you cant buy a mac with 10 processors or 1 TB of RAM is just crazy to me. And honestly, there macbooks are outdated, expensive, and bloated..... just my 2 cents.
     

    --
    ~Bchickens
    1. Re:Amazing, and they cant build a server by Anonymous Coward · · Score: 2, Insightful

      Amazing you think they need to build a server. Apple has correctly figured out how to make money, and it's not by building servers.

      As a shareholder, I am pleased you're disappointed.

    2. Re:Amazing, and they cant build a server by misexistentialist · · Score: 1

      business cares about cost, parents giving a $1000 phone to a 10-year-old to stop it from crying don't

    3. Re:Amazing, and they cant build a server by Anonymous Coward · · Score: 0

      That's a seriously stupid parent, you can get a pretty solid smartphone for $200.

    4. Re:Amazing, and they cant build a server by Anonymous Coward · · Score: 1

      But I WANT THAT ONE!!!

    5. Re:Amazing, and they cant build a server by ShanghaiBill · · Score: 3, Insightful

      Building web servers, compute engines, and datacenter servers to run VMs, are all commodity businesses with lots of competition and low margins. They are so profitable precisely because they don't waste their resources on things like that.

    6. Re: Amazing, and they cant build a server by Anonymous Coward · · Score: 0

      Got a handful of 12 cores here.

    7. Re:Amazing, and they cant build a server by Anonymous Coward · · Score: 0

      I see. You fail to understand that Apple has a set of markets which make it very profitable. Unfortunately, you want to add another market. It seems to me that they have evaluated the ROI of adding such a tightly-constrained and crowded market to their list of high-profit ones, and decided against it. Perhaps they need you, the amazed genius to show them the path to obviously-absolutely-required-and-worthwhile-the-maintenance-costs server world.

    8. Re:Amazing, and they cant build a server by phantomfive · · Score: 1

      It makes me feel good that some company in the world can do well by completely snubbing corporate desires. Probably shouldn't make me feel good, but it does. Business is not the most important thing.

      --
      "First they came for the slanderers and i said nothing."
    9. Re:Amazing, and they cant build a server by Anonymous Coward · · Score: 0

      *slap*

    10. Re:Amazing, and they cant build a server by Joce640k · · Score: 1

      So.... how about they pay some taxes on that?

      --
      No sig today...
    11. Re:Amazing, and they cant build a server by Anonymous Coward · · Score: 0

      Yes, it should make you feel good.

    12. Re:Amazing, and they cant build a server by Anonymous Coward · · Score: 0

      Do you live on earth?

    13. Re:Amazing, and they cant build a server by sootman · · Score: 1

      > No servers, No way to run virtual machines on a PC, and a MAC
      > cant hold more than like 2 or 3... The fact that you cant buy a mac
      > with 10 processors or 1 TB of RAM is just crazy to me.

      It's almost as if the vast majority of consumers on the planet aren't network admins.

      --
      Dear Slashdot: next time you want to mess with the site, add a rich-text editor for comments.
    14. Re:Amazing, and they cant build a server by PoopJuggler · · Score: 1

      What taxes do you think they owe the US government? They pay all the taxes that the government requires them to pay. Don't bitch at Apple, bitch at your legions of bullshit Republican representatives and their oligarchy of greed and corruption.

    15. Re:Amazing, and they cant build a server by Anonymous Coward · · Score: 0

      Except that they've also completely shafted the high-end professional machines and the people that used to use Apple as their goto for that class of equipment.

    16. Re:Amazing, and they cant build a server by Anonymous Coward · · Score: 0

      What about video editors? Used to be Apples bread and butter. Anyone who works with video today would need to use a PC since Macs have more or less been abandoned.

    17. Re:Amazing, and they cant build a server by Anonymous Coward · · Score: 0

      ...and yet every corp executive has one. (with the possible exception of Microsoft executives).

      (even google execs probably use Macbooks, and not Chromebooks).

    18. Re:Amazing, and they cant build a server by Wargames · · Score: 1

      The fact that most PC's come without 5K monitors seems crazy to me.

      --
      -- Each tock of the Planck clock is a new world and here we are still life. --
  6. Standards by EEPROMS · · Score: 1, Interesting

    One of the problems with countries like India and China is that Universities view funding and student fees as being more important than the skills of their students. In chinese and indian universities it is very common for students to hand in cut and past assignments. I recently was talking to a western medical teacher who was working in china and he was chastised by the University for having high standards that incurred low student scores. The laugh is he was actually making the exams easier than what he is used to assigning in the USA. So yes you can get thousands of cheap engineers in China but less than 5% of them are worth paying for.

    1. Re:Standards by Anonymous Coward · · Score: 0

      Do you have any evidence of what you're saying beyond anecdotes?

      Typical 'murican "we're better than everyone else" BS.

      Mediocre people and mediocre educational institutions exist anywhere (starting with the so called "university" founded by the current president), and the opposite is also true. There are good schools almost anywhere.

      Truth of the matter is that the current CEO of Google, as well as the CEO of M$ are both educated in India, and if they count as samples of what you can get from India (which they do as much as your anecdotes), then I would say that Indian engineers are better educated than you.

      BTW, what does this have to do with the price of Apple's stock?

    2. Re:Standards by Anonymous Coward · · Score: 0
      As an employer I can assure you this is the case, many "highly qualified" Asian and Indian job seekers should take their degree and use it as toilet paper as that would be more valuable use for it. Same goes for those purporting to be doctors and yes I know a few that admitted many of them simply buy their qualifications

      Posting anon as I might vote for trump next time

    3. Re:Standards by bames53 · · Score: 2

      Slashdot: Only 36 Percent of Indian Engineers Can Write Compilable Code Says Study

      India Graduates Millions, but Too Few Are Fit to Hire

      Only 7 per cent engineering graduates employable: What's wrong with India's engineers?

      BTW, what does this have to do with the price of Apple's stock?

      I'm guessing the grandparent was intended as a reply to my first link here, since on slashdot's front page it's right below this story on Apple right now.

  7. Ridiculous! So overpriced by fustakrakich · · Score: 1

    Like the derivatives market this is pure fantasy. It's a real bubblegum blowing contest. Who will be the champ?

    --
    “He’s not deformed, he’s just drunk!”
    1. Re:Ridiculous! So overpriced by Anonymous Coward · · Score: 0

      "Value"

    2. Re:Ridiculous! So overpriced by ShanghaiBill · · Score: 1

      Like the derivatives market this is pure fantasy. It's a real bubblegum blowing contest. Who will be the champ?

      If you are so much smarter than the market, then you should be able to get rich by shorting Apple's stock. After you cash in and buy your yacht, you can come back here and post a picture of it.

    3. Re:Ridiculous! So overpriced by fustakrakich · · Score: 1

      If you are so much smarter than the market

      Has nothing to do with 'smarts'. It's about your connections and inside knowledge. The market is too 'valuable' to leave to chance.

      --
      “He’s not deformed, he’s just drunk!”
    4. Re:Ridiculous! So overpriced by Cmdln+Daco · · Score: 2

      It is really tiresome that Apple is measured on the value of their stock on Slashdot. This used to be a nerd site. Not a stock speculator's rally.

    5. Re:Ridiculous! So overpriced by phantomfive · · Score: 1

      No dude, for a lot of companies you could say that, but check it out. They have ~$200billion in the bank, and make around $50billion in profit every year. If you bought Apple for $800billion you'd be able to make your money back in 12 years.

      --
      "First they came for the slanderers and i said nothing."
    6. Re:Ridiculous! So overpriced by Anonymous Coward · · Score: 0

      Only if the market ever learns that Apple was overvalued. Otherwise shorting Apple stock won't ever make GP a cent. It's even likely to cost him money.

    7. Re:Ridiculous! So overpriced by Plumpaquatsch · · Score: 1

      Only if the market ever learns that Apple was overvalued. Otherwise shorting Apple stock won't ever make GP a cent. It's even likely to cost him money.

      Yeah, it's pretty damn hard to convince the market that Apple is overvalued. Wonder why that is. Could it be... nah. It's probably because you are simply not trying hard enough.

      --
      Of course news about a fake are Fake News.
    8. Re:Ridiculous! So overpriced by Anonymous Coward · · Score: 0

      You clearly don't understand how to short a stock moron. Hint. You need to own said stock in the first place you idiot.

  8. First?! by Anonymous Coward · · Score: 0

    Alright, I've seen this before (with Microsoft, coincidentally enough); but, US companies have already broken the $trillion mark; it's definitely impressive; but, Apple's definitely not the first.

    1. Re:First?! by ShanghaiBill · · Score: 2

      US companies have already broken the $trillion mark

      Nope. Microsoft peaked at $619B on Dec 27th, 1999. Even when adjusted for inflation, it is below $1T, although it is higher than where Apple is now.

    2. Re:First?! by Osgeld · · Score: 1

      but apple only does things first, they invented the rectangle, gloss and black, icons and the mouse lest you forget

  9. They have that money because they robbed us. by Zombie+Ryushu · · Score: 1

    They have that money because they robbed the public of billions. with Subsidized Phone plans, and creating debt for the public.

    1. Re: They have that money because they robbed us. by thundercattt · · Score: 1

      Don't forget paying 0 in tax.

    2. Re: They have that money because they robbed us. by dhartshorn · · Score: 1

      Somebody made you buy an iPhone?

    3. Re: They have that money because they robbed us. by ShanghaiBill · · Score: 2

      Don't forget paying 0 in tax.

      Apple paid $10.7B in income tax last year on net income of $69B.

      They paid billions more in sales and payroll taxes.

    4. Re: They have that money because they robbed us. by Osgeld · · Score: 1

      so they paid less than half the rate than I did in income tax

      those poor babies

    5. Re: They have that money because they robbed us. by Plumpaquatsch · · Score: 1

      so they paid less than half the rate than I did in income tax

      those poor babies

      Hey, you probably also paid more taxes overall than Amazon did. Why don't you complain about that?

      --
      Of course news about a fake are Fake News.
    6. Re: They have that money because they robbed us. by Anonymous Coward · · Score: 0

      What does Amazon have to do with this? Oh yes blind apple worshiper trying to deflect. Please try and keep up

    7. Re: They have that money because they robbed us. by Plumpaquatsch · · Score: 1

      What does Amazon have to do with this?

      What does a lie about not paying taxes have to do with market capitalisation?

      Amazon is the biggest tax dodger in the world, as well as the company using government provided services the most. Any whiney discussion about "not paying taxes" must necessarily also be about Amazon - unless of course you are one of their paid shills.

      --
      Of course news about a fake are Fake News.
    8. Re: They have that money because they robbed us. by Anonymous Coward · · Score: 0

      To which country? Their tax avoidance schemes means they are only really paying tax in a single country.

      It's simple really: create a shell company that buys iPhones from a global Apple distributor and sell for the exact same amount of they paid for it, thus no profit. The profit is on the global distributor part located in another country.

      One of two things could fix that: a tariff on imported goods or a VAT tax when the transfer of goods is performed.

    9. Re: They have that money because they robbed us. by Anonymous Coward · · Score: 0

      Shilling for apple isnt paying enough for you? Maybe make the move to Amazon.

    10. Re: They have that money because they robbed us. by SvnLyrBrto · · Score: 1

      How do you figure Amazon uses government services the most? Because of shipping and delivery? Well, you're way off. Here's how it works: Amazon pays UPS, FedEx, etc., to deliver packages. UPS, FedEx, and so on buy gas to fuel their trucks. When you, or anyone else, buys gas, you pay tax on it earmarked for road construction and maintenance. It's hardly Amazon's fault (Or UPS's or FedEx's, for that matter.) that corrupt politicos loot that gas tax and piss it away into dubious general fund projects.

      --
      Imagine all the people...
  10. Next iPhone will spur a resurgence in sales? by scdeimos · · Score: 1

    "Apple became the first U.S. company with a market value of more than $800 billion as investors bet the next iPhone will spur a resurgence in sales."

    Will it have a headphone jack?

    1. Re: Next iPhone will spur a resurgence in sales? by Anonymous Coward · · Score: 0

      why the hell you need that stupid jack you dumbfuck, use the radio, like the rest of ifags - shove it up your ass, no wires required and completely waterproof.

  11. Shut it down by dhartshorn · · Score: 1

    and give the money back to the shareholders.

    Or not.

    1. Re:Shut it down by Plumpaquatsch · · Score: 1

      and give the money back to the shareholders.

      Or not.

      With their share buy-back program, they've already paid more mony back to the shareholders than Dell was ever worth. No need to shut it down, even if weren't so damn profitable.

      --
      Of course news about a fake are Fake News.
    2. Re:Shut it down by Anonymous Coward · · Score: 0

      Yes. But mikey dell should never be allowed to forget his threats of yore. That loud-mouthed blowhard should be forced to eat his words, and the crow that comes with them, until the end of his days.

  12. Inflation. by xlsior · · Score: 4, Interesting

    While very impressive numbers, when you adjust for inflation things look different.

    Adjusted for inflation:
    - Cisco had a market cap of 758 billion in March 2000.
    - GE has a market cap of 816 billion in August 2000
    - Microsoft had a market cap of 871 billion in December 1999
    - IBM had a market cap of 1.3 trillion in 1967
    https://qz.com/335147/apples-m... http://gadgets.ndtv.com/others...

    But they all dwarf compared to the Dutch East-India Company (VOC), 1602-1800, the first publicly traded company in the world, which had a market cap of over SEVEN TRILLION inflation-adjusted dollars at its peak.

    1. Re:Inflation. by Kiuas · · Score: 1

      But they all dwarf compared to the Dutch East-India Company (VOC), 1602-1800, the first publicly traded company in the world, which had a market cap of over SEVEN TRILLION inflation-adjusted dollars at its peak.

      This is correct but it's good to remember that these colonial megacorps were essentially quasi-nations which had their own armies and in the case of VOC even the power to administer capital punishment, so while they're the first publicly traded companies they're also not exactly comparable in their power to the megacorps of today.

      --
      "It is the business of the future to be dangerous" -Alfred North Whitehead
    2. Re: Inflation. by Anonymous Coward · · Score: 0

      Tim Cock can surely capital-punish jony Ive by forcing his cock up his butthole.

    3. Re:Inflation. by DarthVain · · Score: 2

      Just wait until Apple (or some other corporation) is valued at 7 Trillion and see what happens...

    4. Re:Inflation. by Anonymous Coward · · Score: 0

      the problem is that market cap is really a made up number. The total number of shares multiplied by the last sale price. It has NOTHING to do with how much the company is actually worth, how much money changed hands or in anything to do with anything real.

      I have 1 million shares in my company. If I sell 1 share for $1000 then my market cap just becomes 1billion. However at no point did 1billion is value get created, neither was a billion ever traded or changed hands.

      99% if the stock exchanges "value" is this sort of value. Just made up.

  13. Meanwhile... by Anonymous Coward · · Score: 0

    Meanwhile, in Canonical...

  14. Taxes by Anonymous Coward · · Score: 0

    Anyone got a number on how much tax money they would owe the US if they paid? Probably around $200 Billion. Snakes in suits.

    1. Re:Taxes by Plumpaquatsch · · Score: 1

      Anyone got a number on how much tax money they would owe the US if they paid?

      How can you owe taxes after you paid them?

      Anyway, they currently don't owe the US any taxes. Because keeping the money offshore is totally legal, else the Senate would actually do something about it but simply to bitch and moan.

      --
      Of course news about a fake are Fake News.
    2. Re:Taxes by PoopJuggler · · Score: 1

      Most of them probably own stock in Apple.

    3. Re:Taxes by Anonymous Coward · · Score: 0

      The company does not pay tax based on it's Wall Street value. Taxes are collected based on the net income of the company, and the net profit that an individual investor receives when they sell their shares of stock or collect dividends.

  15. Apple cant build a computer. by Anonymous Coward · · Score: 0

    Apple is value-added resale. Ive seen used car salesmen do more fabrication work than Apple.

    In my experience, I think a better style of Apple computer would be.built by Panasonic or Goldstar or 3DO.

  16. lol - first US company... by Anonymous Coward · · Score: 0

    ...that hides all that money overseas to avoid paying nearly all taxes...

    f crApple