Apple can already lay claim to the crown of being the most valuable company in the world, however the company (and its investors) will be even more delighted with the news that it has officially become the first company to be valued at $700 billion. The company, which is behind the iPhone and iPad, saw its shares rise to $119.75 following early trading today, which actually wound up meaning that the company is actually now valued at a little over $701 billion.
While it is entirely possible that this number may fall a little during the coming days, it is more likely that the company will continue to expand upon this performance, which sees it outstripping main rival Google much to the satisfaction of fans of the company. The much-publicised trademark and copyright wars the two companies have waged in recent years have seen a generally equal result, however this record-breaking achievement seems to suggest that Apple is coming out on top overall.
All told the company has been seeing bumper performance this year thanks to the release of the iPhone 6 and its subsequent success. The value of the company’s shares have risen steadily to the point where they are now worth around about 60% more than they were at the same point in 2013.
Record breaking sales will certainly be helping the company’s cause. Apple announced that they had sold more than 39 million iPhones in the third quarter and the company are predicting a continued increase in sales during the Christmas period, where it is believed many people will be rushing out to buy the device as presents. The company is so confident that they are predicting they will sell more in the final quarter than they did during the entirety of 2010.
Apple head Tim Cook commented on the astonishing figures, stating: “At this point we are selling everything we’ve made,” and the scale of the success of Apple’s new iPhone has truly been staggering. While nobody was predicting that the device would fail during the buildup to its release it appeared most likely that the phone would perform as well as its previous iterations, especially following some online grumbling about the lack of genuinely innovative features being introduced.
However, it truly does appear that, in this case at least, bigger is better. While the larger phone design caused some consternation initially, it appears many of those doubts have now disappeared. Not even manufacturing issues that have led to some of the phones bending while in people’s pockets have been able to dent its success.
While the landmark represents a great moment for Apple in its battle with Google, it is unlikely that the company will stop there. Some analysts are going so far as to predict the company will be worth a truly staggering $1 trillion in just a few short year’s time.
The task they face now is to continue building products that can match and exceed the performance of the iPhone 6.