ShyGuyInChicago
August 19th, 2011, 09:13 PM
Apple's Market Cap Matches 32 Largest Euro Banks...Combined - Forbes (http://www.forbes.com/sites/ericsavitz/2011/08/19/apples-market-cap-matches-32-largest-euro-banks-combined/)
In one short story, Reuters today (http://www.reuters.com/article/2011/08/19/us-apple-worth-idUSTRE77I46520110819) has managed to capture almost everything that’s now going on in the financial markets.The news wire has figured out that Apple (http://finapps.forbes.com/finapps/jsp/finance/compinfo/CIAtAGlance.jsp?tkr=AAPL)‘s market cap – currently about $337 billion – now roughly matches that of the 32 largest publicly traded European banks combined. The story notes that the 32 stocks in the DJ STOXX euro zone bank index (http://www.stoxx.com/indices/index_information.html?symbol=SX7E) are valued at about $340 billion. That index is down by about a third since early July, and is off 75% since May 2007.
This news comes in a week when Apple’s dominance in the smart phone and tablet market has spurred Google to buy Motorola Mobility and essentially forced Hewlett-Packard to kill off the remnants of the Palm hardware business and seek a way out of the PC business.
Apple is the world’s second-largest company by market cap, currently trailing Exxon Mobil by about $10 billion.
In one short story, Reuters today (http://www.reuters.com/article/2011/08/19/us-apple-worth-idUSTRE77I46520110819) has managed to capture almost everything that’s now going on in the financial markets.The news wire has figured out that Apple (http://finapps.forbes.com/finapps/jsp/finance/compinfo/CIAtAGlance.jsp?tkr=AAPL)‘s market cap – currently about $337 billion – now roughly matches that of the 32 largest publicly traded European banks combined. The story notes that the 32 stocks in the DJ STOXX euro zone bank index (http://www.stoxx.com/indices/index_information.html?symbol=SX7E) are valued at about $340 billion. That index is down by about a third since early July, and is off 75% since May 2007.
This news comes in a week when Apple’s dominance in the smart phone and tablet market has spurred Google to buy Motorola Mobility and essentially forced Hewlett-Packard to kill off the remnants of the Palm hardware business and seek a way out of the PC business.
Apple is the world’s second-largest company by market cap, currently trailing Exxon Mobil by about $10 billion.