Apple's value surpasses 600 billion dollar mark for first time ever

   Apr 11, 4:21 pm

London, Apr 11(ANI): Technology giant Apple's value has hit the 600 billion dollar mark for the first time ever, asserting its position as the most valuable US company in the world.

Apple's share had crossed the 500 dollars doorsill back in February , and they reached a high of 644 dollars on Tuesday.

Apple's stock has risen by almost 60 per cent since the start of the year, and it is another milestone for the iPhone maker, whose shares were worth as little as 3.19 dollars in 1997 when it faced the possibility of bankruptcy.

Competitor Microsoft is worth 260 billion dollars, and in 1999, at the peak of the dotcom boom, had reached 619 billion in market capitalization, The BBC reports.

In January, Apple reported record-breaking net profits for the last three months of 2011, and at the end of last year, it revealed it had 97.6 billion dollars in cash.

In March, the tech giant under current chief executive Tim Cook said it will use its cash to start paying a dividend to shareholders and to buy back some of its shares. (ANI)

Every six tourists creates one job in Nepal: Study Aug 22, 4:25 pm
Kathmandu, Aug.22 (ANI): One job is created in Nepal with the help of six tourists, a study has said.
Full Story
Bright future for smartphone market in India Aug 21, 1:07 pm
Washington, Aug 21 (ANI): Smartphone market in India has seen a healthy growth with shipments revving up 84 percent, year over year, and an 11 percent per quarter.
Full Story
Bank of America set to seal record $17 bln deal with Justice Department over faulty mortgages Aug 21, 11:55 am
Washington, Aug 21 (ANI): A report has revealed that the final terms for a record 17 billion dollars settlement between the Bank of America and the Department of Justice have almost been finalized. The United States' second largest bank has been held in the dock by the Justice department for selling faulty mortgage securities that ultimately contributed to the 2008 global financial crisis.
Full Story
Standard Chartered agrees to pay $300m penalty to NY regulator Aug 20, 1:45 pm
London, Aug 20 (ANI): Following failure to improve money laundering controls, Standard Chartered has reportedly agreed to pay 300 million dollars (180m pound) in penalty to New York's top banking regulator.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY