Apple's Market Capitalization Sets First New Record High in Two Years at Over $660 Billion
Apple's market capitalization reached a record high today, breaking the $660 billion mark to sit in the range of $662-664 billion for much of the day's trading so far. The new high breaks a previous closing record of $658.15 billion set on September 19, 2012 and intraday high of nearly $661 billion reached two days later. Market capitalization measures the market value of a business and is calculated by multiplying the stock price by the number of available shares.
Apple comfortably leads all U.S. companies in market capitalization, with its closest competitors being Microsoft and Exxon, which have market capitalizations of just over $400 billion each. Fourth-place Google falls sits at roughly $370 billion.
While Apple's share price has been routinely setting new records since surpassing its previous September 2012 high in August, it has taken a bit longer for Apple to return to its record market capitalization levels as the company's expanded stock buyback program has reduced the number of outstanding shares.
Apple's stock has surged 17 percent in just the four weeks since Apple's October media event and subsequent earnings announcement where the company announced strong fiscal Q4 2014 earnings fueled by the iPhone 6, iPhone 6 Plus and record Mac sales. The company's share price is up approximately 50 percent over the past twelve months.
Apple last quarter reported $8.5 billion in profit on $42.1 billion in revenue with sales of 39 million iPhones, 12.31 iPads and 5.5 million Mac units. While Mac and iPhone revenue climbed, iPad sales slumped with quarterly revenue dropping 14 percent year over year and 10 percent from the previous quarter. iPad sales are expected to temporarily rebound in the upcoming quarter following the introduction of the new iPad Air 2, with holiday season discounts expected to propel sales of Apple hardware.
Popular Stories
Apple released the AirTag in April 2021, so it is now three over and a half years old. While the AirTag has not received any hardware updates since then, a new version of the item tracking accessory is rumored to be in development.
Below, we recap rumors about a second-generation AirTag.
Timing
Apple is aiming to release a new AirTag in mid-2025, according to Bloomberg's Mark Gurman....
While the Logitech MX Master 3 is a terrific mouse for the Mac, reports claiming that Apple CEO Tim Cook prefers that mouse over the Magic Mouse are false.
The Wall Street Journal last month published an interview with Cook, in which he said he uses every Apple product every day. Soon after, The Verge's Wes Davis attempted to replicate using every Apple product in a single day. During that...
Apple is set to release iOS 18.2 next month, bringing the second round of Apple Intelligence features to iPhone 15 Pro and iPhone 16 models. This update brings several major advancements to Apple's AI integration, including completely new image generation tools and a range of Visual Intelligence-based enhancements. There are a handful of new non-AI related feature controls incoming as well....
Earlier this month, we reported about some iPhone users temporarily losing all of their notes in the Notes app after accepting Apple's updated iCloud terms and conditions. Apple has now indirectly acknowledged this issue in a new support document that outlines steps to follow if your iCloud notes are not appearing on your iPhone, iPad, or Vision Pro.
Fortunately, the notes can be re-synced...
It appears that Apple is discontinuing the Lightning to 3.5mm headphone jack adapter that it released alongside the iPhone 7 and iPhone 7 Plus in 2016.
The adapter was recently listed as "sold out" on Apple's online store in the U.S. and most other countries, according to MacRumors contributor Aaron Perris. The adapter remains available from Apple in only a handful of countries, such as...
