Apple Is Now Wealthier Than Europe’s Top 32 Banks! $80B
Remember when we said that Apple has more money that the United States Government?
Actually… don’t worry about that, because it’s old news. Apple has now crossed the $80B mark, and now contains more wealth than the top 32 banks in Europe… yes… the Continent, not just a country or two.
Apple continues to defy all analytical sense by growing rapidly despite economic instability, and stock market drops occurring daily. According to a report from CNBC this morning, Apple is now worth as much as the 32 biggest euro zone banks.
Apple became the most valuable company in the world for a little while on August 9th (which also happens to be my birthday… just sayin). They proudly bumped Gas price gauging giant ExxonMobil to the second place podium, and it was later discovered that Apple possessed more money in their coffers than the US Government did (by about $2.3 Billion actually).
Apple has grown in light of their popular smartphone, the iPhone, as well as their near-monopolistic hold on the PMP (portable media player) market. You may recall earlier this year, Microsoft discontinued the Zune music player, which was arguably Apple’s biggest competition (which wasn’t really competing anyways). Their Mac sales have greatly increased as well. In fact, if Apple’s Mac computer was a stand-alone company… it would easily be in the top 10 all on it’s own. We won’t even get into the Billions upon billions of revenue that is generated in iTunes (because that’s just too obvious).
How are they doing it? My theory is not only the amazing products they design and distribute, but also their marketing as well. [Read More about Apple's Marketing Strategy]
One must wonder… how high will this go? How much longer will they grow at this rate? Most importantly as well… Will they fall hard when Steve Jobs retires? It’s hard to say really, but Apple has never really been successful without him at the helm. They were still growing while he was on medical leave though, and did develop great devices still in his absence. If stockholders feel comfortable with a new CEO… maybe we all should too (but likely.. stocks will plummet. That’s my prediction anyway).