Apple shares soared yesterday, pushing the company past a significant milestone.
Apple has a lot of money. This we know. However, the company passed a jaw-dropping milestone this week that accurately illustrates just how much the Cupertino-based company is actually worth. Apple shares surged to an all-time high yesterday, passing the $490 mark and closing at $493.17. This is up $16.49 from just one day previously and represents a 3.46 percent increase for the day. More interestingly, it pushed Apple's capitalization to just shy of $460 billion. This is more than rivals Microsoft and Google combined.
AppleInsider's Neil Hughes was the first to notice the achievement, noting that Microsoft's market cap yesterday stood at around $256.7 billion, while Google was valued at around $198.9 billion. This counts for a combined market cap of $455.6 billion. With Apple's stock up more than 3 percent in yesterday's morning trading, the company surpassed the combined totals of both Google and Microsoft. Apple's market cap currently stands at $459.82 billion.
Fortune also points to a great blog called 'Things Apple is Worth More Than' over on Tumblr. So far, the blog lists: The global coffee industry ($70 billion per year); the Apollo space program, twice over ($145 - $170 billion); the entire NFL, thirteen times (all of the teams combined are worth $33 billion); and all the gold at the New York Federal Reserve Bank (a massive 7,000 tonnes as of last August for a total worth of $350 billion). Head over to Tumblr for more, or Fortune, which has also got it's own list going (theirs includes Sweden, which has a gross domestic product of $458 billion).