Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: 3.9
Article rating: 5.0
Article rating: 4.5
Article rating: 5.0
Article rating: 4.0
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 4.3
Article rating: 1.0
Article rating: No rating
RSS

News

Apple’s market cap crosses $800 bn for first time

Author: S Vijaykrishnan/Tuesday, May 9, 2017/Categories: Global, Technology

Apple’s market cap crosses $800 bn for first time

San Francisco, (IANS) In yet another milestone, Apple's market capitalisation briefly soared past $800 billion threshold, making it the first company ever with such a mammoth valuation.

 Apple's shares closed up 2.7% for the day at $153.01 late on May 8, taking the company to a market value of $797.8 billion, Fortune reported.Earlier, analyst Brian White from investment firm Drexel Hamilton raised his price target for Apple shares from $185 to $202 - implying a market value of over $1 trillion.

According to White, iPhone 8, repatriation of foreign cash and new innovations could bring more good news for Apple shares. Alphabet, Google's parent company, is the second most valuable company with a market cap of $653 billion, followed by Microsoft at $532 billion.
 
Apple sold 50.8 million iPhones in the first three months of 2017, down one% year-on-year, according to the company's second quarter results that came earlier in May. CEO Tim Cook blamed a "pause" as customers wait for the next iPhone which is due to release later in 2017.
 
The dip in iPhone sales was offset by services, including Apple Pay, iCloud and the App store, which recorded an 18% increase in sales to $7 billion. Due to the robust sales of its iPhone 7 Plus, the revenue from iPhones climbed 1% to $33.2 billion.
 

Print Rate this article:
No rating

Number of views (171)/Comments (0)

S Vijaykrishnan
S Vijaykrishnan

S Vijaykrishnan

Other posts by S Vijaykrishnan
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free