Apple is the first brand passing the $ 800 billion line

After reaching $ 800 billion of market capitalization, Apple became the first US brand that passed number until today.

Apple shares reached a level of  $ 803 billion by closing the day with a price of $ 153.99. After the company’s Monday-time swap deals, Apple’s shares left 153 dollars behind and the company’s worth exceeded 800 million dollars.

Recent developments have led to the success of the largest technology company of the world. In February 2015, Apple was the first company in the US to surpass the $ 700 billion market cap. Now it became the first company passing the 800 billion dolar cap in the world.

Apple’s success is largely associated with the iPhone. Due to falling demand and the negative economic winds in the second fiscal quarter of 2016, iPhone experienced a year-on-year decline. This ongoing decline continued until the end of 2016 and in the first quarter of 2017 it finished.

In fact, the company also suffered economic difficulties again in March 2017. According to the CEO of Apple, Tim Cook, the reason of this economic difficulty was that production speed of iPhone 7 Plus could not reach the increasing customer demand. This caused the price of the phone to rise from $ 642 last year to $ 655.

Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.