Ap­ple 1st com­pany to hit $1 trn m-cap

India Business Journal - - GLOBAL WRAP-UP -

Ap­ple has be­come Amer­ica's first pub­licly-traded com­pany to be val­ued at $1 tril­lion. At a whop­ping $244 bil­lion, Ap­ple's cash bal­ance alone is higher than the com­bined mar­ket cap­i­tal­i­sa­tion (m-cap) of Re­liance In­dus­tries and Tata Con­sul­tancy Ser­vices. Th­ese are the only two $100-bil­lion com­pa­nies in In­dia. Ap­ple has re­ported strong sales of its flag­ship iPhones, re­spon­si­ble for roughly 60 per cent of its rev­enues. Thanks to Ap­ple Watch and AirPods ear­phones, the com­pany's com­par­a­tively small wear­ables di­vi­sion has be­come a $10-bil­lion an­nual busi­ness. Ap­ple was founded by Steve Jobs, Steve

Woz­niak and Ron­ald Wayne in April 1976 in Cu­per­tino, Cal­i­for­nia.

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