Apple: The biggest gets bigger with record market cap

When it comes to Apple, anyone who has written about the company (including myself) has, at least at some time, had to resort to hyperbole to describe it.

Let’s face it: Some animals are just more equal than others, and Apple, because of what it is, what it sells, and the affection and attraction people have for the company and its products, is one of those rare “more equal” animals.

And sometimes, that hyperbole is true. Monday provided a case of that, when Apple, already the world’s most valuable company, managed to break its own record for market capitalization.

When U.S. stock markets opened, Apple came out the gate at $149.06 a share. That was good enough for Apple’s market cap to reach $776.6 billion. There are about 5.2 billion Apple shares outstanding.

That value topped Apple’s own all-time record of $774.7 billion, which the company hit in February 2015.

Oh, but Apple wasn’t done. As of the time of this writing, Apple shares had risen to $152.55 a piece, a gain of 2.4 percent on the day, to give Apple a market cap of $795.37  billion.

Just to put that figure in some perspective, $787.65 billion is…

  • 1.02 billion iPhone 7 Plus phones (at the $769 starting price)
  • Enough to pay Steph Curry’s reported $12.11 million salary this season…For the next 65,041 seasons.
  • $19 billion more than the estimated $769 billion gross domestic product of the Netherlands.
  • Probably enough to buy the Oakland Raiders, the land necessary to build a new stadium, and the stadium itself so that the team doesn’t have to move to Las Vegas. Oh, and buy Raiders owner Mark Davis a new haircut, too.

The numbers don’t lie. Apple is the biggest of the big.

Photo: Apple Chief Executive Tim Cook speaks at a product launch event on March 21, 2016, at Apple headquarters in Cupertino, where he announced that there are 1 billion active Apple devices in the world. On Monday, Apple broke its own record for market capitalization. (Karl Mondon/Bay Area News Group)

 

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