Apple’s market cap passes Google’s
For the first time in the history of the two giants of Silicon Valley, the market capitalization value of Apple passed that of Google, just a few weeks after the Google CEO left Apple’s board of directors.
Market capitalization (market cap) is a measurement of the value of a business enterprise equal to the share price times the number of shares outstanding of a public company. It is a very important number that represents the opinion of the investing public about how much a company is actually worth, since it is the total of how much money investors have paid for the company. Apparently, the public believes that Apple is worth quite a lot, since this move places Apple as the fifth largest company in the U.S. according to market cap value, well higher than companies like General electric, according to a New York Post story.
The upward move of Apple came just after the company announced its fourth quarter 2009 sales. Just after that announcement in a well attended conference call, shares of Apple soared to a new yearly high and helped Apple’s market cap surpass Google’s for the first time, topping out at $179.3 billion, contrasted to Google’s market cap of $174.3 billion. Apple stock was briefly above $200 per share for a short time before falling back to $198.76, up nearly 5 percent on the day and capping a year in which Apple’s stock value rose by a third.
This upward move comes in a year during which a global economic depression dominated business news and during which the sales of most companies in Apple’s markets were flat at best. Known for selling pricey, high quality electronics, Apple had one of their best years in recent memory by many metrics, proving that in bad times people are looking for value more than low prices. Apple provides that value all across their product line, easily besting the products of their competitors in many cases. When value for the dollar is king, Apple is the prince with both consumers and investors.
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October 21st, 2009
You’re wrong. AAPL’s market cap has exceeded GOOG’s earlier this year. Did you do any research?
October 21st, 2009
You’re wrong. AAPL’s market cap has exceeded GOOG’s earlier this year. Did you do any research?
http://www.tuaw.com/2008/08/13/apple-market-value-exceeds-googles/
And that was in 2008!