12 votes

Apple surpasses Saudi Aramco to become world’s most valuable company

6 comments

  1. [5]
    stu2b50
    Link
    Big Tech got bigger. Apple and Amazon are both in the running now for a 2 trillion market cap. It's pretty crazy this tech firm selling smartphones has a higher market cap than the government run...

    Big Tech got bigger. Apple and Amazon are both in the running now for a 2 trillion market cap.

    It's pretty crazy this tech firm selling smartphones has a higher market cap than the government run oil company with the 2nd largest oil reserve of anywhere on Earth and the most volume of oil production in the world, which also leads a literal oil cartel.

    9 votes
    1. onyxleopard
      (edited )
      Link Parent
      This sort of description of Apple belies Apple’s position in the market today. Consider this: the iPhone made up less than half of Apple’s business as of 2019. Apple may have been a 1-hit wonder...

      this tech firm selling smartphones

      This sort of description of Apple belies Apple’s position in the market today. Consider this: the iPhone made up less than half of Apple’s business as of 2019. Apple may have been a 1-hit wonder with the iPod in the early aughts, and a 2-hit wonder with the iPhone in the tens. But, Apple today is a multifaceted business that is doing phenomenally well, and is still somehow growing. Many of Apple’s smaller lines of business are larger than its competitors’ entire total business. The sheer immensity of Apple at this point is nearly incomprehensible, and shrugging Apple off as just a phone-handset seller is misguided. For instance, AirPods alone could be a Fortune 500 company.

      10 votes
    2. [3]
      Moonchild
      Link Parent
      Is it actually getting bigger, or is its value just getting arbitrarily inflated? Is apple (not to mention microsoft,google,amazon) actually providing any more value to the world now than it did...

      Is it actually getting bigger, or is its value just getting arbitrarily inflated?

      Is apple (not to mention microsoft,google,amazon) actually providing any more value to the world now than it did five years ago?

      4 votes
      1. [2]
        stu2b50
        Link Parent
        I mean, yeah? Especially Apple, which garners most of its revenue from good ol fashioned selling physical items. iPhone, MacBook, Mac, iPad, watch sales all blew through expectations in their last...

        I mean, yeah? Especially Apple, which garners most of its revenue from good ol fashioned selling physical items. iPhone, MacBook, Mac, iPad, watch sales all blew through expectations in their last earnings.

        They're materially shipping out far more today than 5 years ago.

        5 votes
        1. suspended
          Link Parent
          I've been a very happy iMac customer since 2008. My wife bought an iPad and iPod years ago. I just bought an iPod touch to use as a portable media player. We are incredibly satisfied with Apple...

          I've been a very happy iMac customer since 2008. My wife bought an iPad and iPod years ago. I just bought an iPod touch to use as a portable media player. We are incredibly satisfied with Apple products.

          2 votes
  2. balooga
    Link
    I wonder what Steve Jobs would think of his company today. When he died they had just announced the iPhone 4S and the iPad 2 had been on store shelves 7 months. So much has changed since Tim Cook...

    I wonder what Steve Jobs would think of his company today. When he died they had just announced the iPhone 4S and the iPad 2 had been on store shelves 7 months. So much has changed since Tim Cook took the reins (and Apple's market cap has nearly quintupled during that time).

    From the Macintosh II and SE forward through the PowerPC and Intel transitions, I grew up using classic Apple products. I've always had a fascination with the history of the company and the personalities inside it. Anyone curious about the early years might be interested to watch the 1999 movie Pirates of Silicon Valley, which did a commendable job dramatizing events from the company's founding up to the (then) present day. I've been lamenting for years that it never got a sequel, because the second half of Steve's career was arguably more incredible than the first. And now this... another meteoric chapter for the company. I'm not even sure how to contextualize it against where the whole thing began in that garage with Jobs and Wozniak, and I can't begin to imagine what happens next.

    5 votes