On August 20, Apple became the most valuable public company this world has ever seen. On that day, Apple had the highest market capitalization of a company ever recorded. The market capitalization indicates the value of a company. A public company has something called “shares” that are basically units of ownership in the company. A company has a “share price” that each share is worth. People and organizations can buy and sell shares in a public company. The market capitalization of a company is determined by the number of shares a company offers multiplied by the share price. The share price usually keeps changing. Since last year, Apple has been the world’s most valuable company. However, on August 20, the company’s market capitalization went over US$623 billion. This is the highest value any company has ever had in the history of the world. The previous highest value of a company was set by the American company Microsoft at US$620 billion in 1999.
Hundreds of millions of people around the world have used at least one of Apple’s products like the iMac, the iPod, the iPhone, or the iPad. Many Apple products are cutting edge and innovative. Apple comes up with new ideas, and often other companies imitate Apple’s ideas. Apple’s products are user-friendly, popular, and are considered cool and fashionable. When a new product is released, people form lines at Apple stores to be the first to own the new product. Even the Apple stores are considered tourist attractions since many of them have very unique buildings and are hi-tech. The image shows an Apple Store in New York, USA, where the store is underground, and the glass structure is just the entrance to the store. Apple is a company based in California, United States. It was founded in 1976, and Steve Jobs was one of the founders. Tim Cook is the current chief executive officer (CEO) of Apple.
The second most valuable company in the world today is Exxon Mobil Corporation, an American oil and gas company.
Here’s a joke:
Teacher: They say that Isaac Newton discovered the law of gravity when an apple fell on his head.
Student: Was it an iMac or an iPod?
Did you know?
Apple, not the fruit but the company, named its computer the “Macintosh” (or Mac for short), after McIntosh Reds, a type of apple that originated in Canada.
Did you know?
Some of the most popular search terms on Google in 2011 were “iPhone 5” (Apple’s next phone expected to come out this year), “iPad 2” (Apple’s tablet computer), and “Steve Jobs” (Apple’s ex-CEO who died last year).
Image Credits: Fletcher6 for Apple store photo, Apple Inc for Apple logo