Apple has now closed out the day as the world’s most valuable company – but why stop there? According to Reuters columnist Robert Cyran, Apple is well on its way to becoming the world’s first trillion dollar company!
It would be thoroughly unsurprising to be if Apple actually achieved this. Apple is continually able to outsmart, outsell, and outperform their competition in basically every way, and is the only company in its category able to actually increase its profits by an average of around 80% per year.
Further, it’s worth considering that Apple’s massive sales growth is occurring about 10 times faster than that of most companies. Couple all this with the $76 billion worth of cash reserves and investments, and it seems clear that Apple is headed straight for the financial skyways.
A $1 trillion Apple would be the equivalent of combining the market value of Microsoft, Google, Intel, Amazon and other tech giants all into a single company, according to the New York Times.
Further, with Apple just now beginning to venture into new territories such as cloud computing, and with the popularity of the iPhone, iPad, and notebooks like the MacBook Air continuing to rise exponentially, Apple still has tremendous room to grow.
What’s more amazing is that Apple was able to achieve all of this while CEO Steve Jobs was out on medical leave!