Apple is now at Rs. 14,98,58,60,00,00,000 market cap which is two-third of India’s GDP. This indicates that this tech giant is bigger than some of the countries. As of March 23, 2020, Apple’s market cap stood at $981 billion, according to YCharts numbers. Within just 21 weeks, the company astonishingly reached its second $1 trillion within market value, just as the global economy grappled with the recession during the COVID 19 pandemic.
To place Apple’s market cap of $2.13 trillion in perspective, the corporation now comparatively stands at about two-thirds of India’s annual GDP of $3 trillion and almost 7X of Pakistan’s $278 billion GDP. In terms of GDP, Apple is still bigger than some of the world’s leading economies such as Italy ($1.9 billion), Brazil ($1.8 billion), Canada ($1.7 billion), Russia ($1.6 billion), Spain ($1.39 billion), Australia ($1.37 billion), according to Statista ‘s 2019 estimates. The example also looks fascinating in Rupees. Currently, the market cap for Apple is Rs 149858600000000 (nearly Rs 1.5 crore crores). When compared to the market cap of the top five Indian firms combined (as of 21 August 2020), Apple is far bigger. Adding Reliance’s $182.9 billion market cap followed by TCS’s $112.5 billion market cap, HDFC Bank’s $79.6 billion, Hindustan Unilever’s $69 billion, and Infosys’ $53.9 billion, the combined market cap amounts to nearly $500 billion. And Apple’s just one-fourth of it.
Earlier this week, after Saudi Arabia’s state-owned oil giant, Saudi Aramco, Apple became the world’s only second company ever, and the first US firm to reach the $2 trillion market cap threshold. Created in 1976, though it took 42 years for global consumer electronics created by Steve Jobs, Steve Wozniak, and Ronald Wayne to reach $1 trillion in value in 2018, the other trillion dollars was achieved in just two years. In reality, by March 23, 2020, Apple’s market cap stood at $981 billion, according to YCharts data. The data revealed that in just 21 weeks, Apple got its second $1 trillion in market value remarkably, just though the global economy struggled with the recession during COVID 19 pandemic.
Meanwhile, owing to its dominant position in the smartphone market, Apple has faced obstacles on the regulatory front. The European Union had announced in June that the firm had opened two formal antitrust investigations into the company, according to Bloomberg. Several of these inquiries is especially looking at the criteria specifications for its in-app purchase program. During the antitrust hearing last month, Tim Cook defended Apple’s policies on the App Store and high fee structure. Amazon and Microsoft were the third and fourth largest corporations in the world with market values of $1.65 trillion and $1.61 trillion as of August 21.