Apple Worth More Than Greece (Well, Not Really)
The combined value of Apple's stock is more than the GDP of some countries.
The combined value of Apple’s stock is more than the GDP of some countries.
CNNMoney (“Apple is worth more than Greece“):
Apple’s value on the stock market briefly rose to $400 billion on Thursday, a record high for what was already the world’s most valuable technology company.
The company’s market cap slipped below the $400 billion mark by midday as Apple’s (AAPL, Fortune 500) stock fell back from the all-time high of $431.37 it set earlier in the morning. Shares ended the day slightly down, leaving Apple with a $398 billion market value.
Still, that puts Apple in some pretty exclusive territory. Only Exxon Mobil (XOM, Fortune 500) has a higher valuation, at about $420 billion. PetroChina (PTR) is Apple’s closest competitor, at $270 billion, and Microsoft (MSFT, Fortune 500) follows at $235 billion.
Apple’s market cap is higher than the gross domestic product of Greece, Austria, Argentina, or South Africa. (For more comparisons, check out this excellent blog: Things Apple is Worth More Than.)
Despite its size, Apple is still one of the fastest growing technology companies. The company will report its finances for the past quarter next week, and analysts expect Apple to announce that its sales grew by 45% compared to last year, according to a survey conducted by Thomson Reuters.
Sometimes, stock valuations create some odd comparisons. There was a time during the dotcom boom where Priceline.com was valued higher than Delta Airlines, for example. My strong sense is that Greece will not only rebound at some point to overtake Apple but that Greece will be around long after Apple fades away. But, if you’re making an investment for the near team, I’d bet on Apple.
UPDATE: John Personna points out below that this is a false comparison, since “Apple’s capitalization is a valuation. Greece’s GDP is a yearly cash flow.”