Apple First Ever Company With Market Value Over $700bn

BANGALORE:  Apple becomes the first company to reach an epic market value of $700 billion. The U.S. tech giant’s shares shot up based on their gains in the smartphone market and soon-to-arrive smart watch.

Apple is creating records, fueled by spectacular demand for the first larger-display iPhones in market.

Apple’s chief executive Tim Cook paid homage to the entire Apple family, whose efforts result in the best products. "We're not focused on the numbers. We're focused on the things that produce the numbers," Cook said.

The 54-year old CEO confirmed that Apple took some $50 billion in revenue in emerging markets over the past calendar year.

Brian White, analyst at Cantor Fitzgerald told his clients, “Given Apple's powerful iPhone cycle, a big 4G ramp in China and the upcoming launch of Apple Watch in April, we believe there is still plenty to look forward to at Apple during this transformational cycle.”

Apple is far ahead in market value from its rival, Exxon Mobil. Their worth is some $382 billion at the market close.
 

This record breaking market reach of Apple was driven by the sale of 74.5 million iPhones, well ahead of most analysts' predictions. Some analysts expect huge response for Apple Watch which is set for release in April.
 

On the other hand, Apple has formed partnership with First Solar to build an $848 million, 1,300-acre solar farm in Monterey County, Calif. This solar project is a part of California Flats Project which will add 130 megawatts of new solar power to California, enough to power about 50,000 California homes.
 

Cook also made news by considering this Apple's "biggest and boldest project ever."He said it was part of Apple's commitment on clean energy and corporate responsibility. 

 

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