Apple’s on one. The Cupertino, Calif.-based tech company has reached a new high as its stock price shot up behind speculation of the iPad 3 being released in the next couple weeks. The jump pushed Apple’s market cap over $465 billion, making it worth more than its two closest rivals, Microsoft and Google, combined.
At press time, Microsoft’s market cap is hovering around $257 billion, while search and advertising giant Google has a market cap around $199 billion.
Apple reported record earnings of $46.3 billion in its last quarter. The company reached that figure by managing to move 37 million iPhones, 15.4 million iPads, and 15.4 iPods, and 5.2 million Macs. It’s cash on hand is now $97.6 billion. It’s no wonder then that Apple is not only the most valuable tech house in the world, but the most valuable company in the world.
A $500 billion valuation can't be too far off.