Home Business At $2.3 trillion, Apple more valuable than UK's top share index

At $2.3 trillion, Apple more valuable than UK’s top share index

The market cap of Apple has touched $2.3 trillion, surpassing the entire value of all the companies in the Financial Times Stock Exchange 100 Index, also called the FTSE 100 which is the UK’s top share index.

While Apple’s market value is around $2.3 trillion (1.7 trillion pounds), all the companies in the FTSE 100 have a combined value of 1.5 trillion pounds, reports the BBC.

“Apple shares fell back on Wednesday, but remained ahead of the London index at the close of trading on Wednesday”.

Demand for Apple’s shares reportedly boosted by the company’s decision to divide its shares to make it easier for individuals to invest in the company.

Apple’s board of directors had approved a four-for-one stock split, effective from August 31.

Weathering the Covid-19 pandemic, tech giant Apple last month scripted history by becoming the first American firm to hit the $2 trillion mark by valuation.

Apple stock rose to cross the threshold — $467.77 per share — that helped it touch the $2-trillion mark.

The iPhone maker passed the $1 trillion mark for the first time nearly two years ago.

If Apple were a country, it would be classified as the ninth richest one with such market valuation.

Most Popular

CBI raids 4 premises in loan fraud case, including BSP MLA’s firm

The Central Bureau of Investigation (CBI) on Monday carried out searches at four locations in a Rs 754.25-crore loan fraud case, including at a...

Encounter breaks out in South Kashmir’s Shopian

An encounter has started between terrorists and security forces in the Melhora area in South Kashmir's Shopian district on Monday, officials said. The firefight started...

Corona is the new Mahishasura in Delhi’s subdued Durga Puja

In times of the pandemic, evil has attained a new face -- coronavirus. Hence, the Safdurjung Matri Mandir, an old puja committee in the...

Sitharaman tells central PSUs to scale up capex in FY21, FY22

Stressing the need for capital expenditure (CAPEX) by Central Public Sector Enterprises (CPSEs), Union Finance Minister Nirmala Sitharaman has said that they need to...