Apple capitalization approached record $3 trillion
With Apple Inc (AAPL.O) just about 4% shy of notching a market valuation of $3 trillion, the iPhone maker is nearing a mark that would make it as big as the world's fifth largest economy after Germany, Reuters reported.
“Apple seems to be more immune to the ebb and flow of the global economy because of its really strong brand. It also has a fairly strong new product line,” said Susanne Streeter, senior investment and market analyst at Hargreaves Lansdown.
Recall that earlier Apple increased its profit by 65% for the year. The company’s net profit for the fiscal year was nearly $ 95 billion. A number of financial indicators turned out to be record-breaking.