business news

Apple Becomes World's 1st $700 Billion Company

Published by: Mike Goldman on 10th Feb 2015 | View all blogs by Mike Goldman


Apple Becomes World's 1st $700 Billion Company


The world's largest private company surpassed a new milestone Tuesday when Apple became the first company in world history to achieve a market capitalization of over $700 billion.  The Cupertino-based tech giant was already riding a wave of stock gains after reporting its highest quarterly earnings ever in January, then got another boost last week in the form of a very successful bond sale.  The development that took the company over the $700 billion hump came Tuesday, meanwhile, when the company announced a partnership with First Solar to build an $848 million solar power plant on 1,300 acres in Monterey County, California.  When completed, the massive solar plant will power Apple's headquarters in Cupertino, a data center in Newark, California, 52 stores across the Golden State and all the company's California-based offices.


With its $700 billion market value, Apple is without question the most valuable company in the world.  That figure is nearly double the market cap of Google, and the world's second most-valuable company, Exxon Mobil, is only worth $384 billion.



Please login or sign up to post on this network.
Click here to sign up now.