Apple's Market Capitalization Sets First New Record High in Two Years at Over $660 Billion

Apple's market capitalization reached a record high today, breaking the $660 billion mark to sit in the range of $662-664 billion for much of the day's trading so far. The new high breaks a previous closing record of $658.15 billion set on September 19, 2012 and intraday high of nearly $661 billion reached two days later. Market capitalization measures the market value of a business and is calculated by multiplying the stock price by the number of available shares.

apple-market-cap
Apple comfortably leads all U.S. companies in market capitalization, with its closest competitors being Microsoft and Exxon, which have market capitalizations of just over $400 billion each. Fourth-place Google falls sits at roughly $370 billion.

While Apple's share price has been routinely setting new records since surpassing its previous September 2012 high in August, it has taken a bit longer for Apple to return to its record market capitalization levels as the company's expanded stock buyback program has reduced the number of outstanding shares.

Apple's stock has surged 17 percent in just the four weeks since Apple's October media event and subsequent earnings announcement where the company announced strong fiscal Q4 2014 earnings fueled by the iPhone 6, iPhone 6 Plus and record Mac sales. The company's share price is up approximately 50 percent over the past twelve months.

Apple last quarter reported $8.5 billion in profit on $42.1 billion in revenue with sales of 39 million iPhones, 12.31 iPads and 5.5 million Mac units. While Mac and iPhone revenue climbed, iPad sales slumped with quarterly revenue dropping 14 percent year over year and 10 percent from the previous quarter. iPad sales are expected to temporarily rebound in the upcoming quarter following the introduction of the new iPad Air 2, with holiday season discounts expected to propel sales of Apple hardware.

Popular Stories

iOS 18 Mock iPhone 16 Feature Gray

Revealed: iOS 18 Works With These iPhone Models

Monday June 10, 2024 3:57 am PDT by
iOS 18 will be compatible with the same iPhone models as iOS 17, according to a post on X today from a private account with a proven track record of sharing build numbers for upcoming iOS updates. iOS 18 will be compatible with the iPhone XR, and hence also the iPhone XS and iPhone XS Max models with the same A12 Bionic chip, but older iPhone models will miss out. Here is the full...
ios 18 tile summary

Apple Announces iOS 18 With New Customization Features, Redesigned Photos App, and More

Monday June 10, 2024 10:17 am PDT by
Apple today previewed iOS 18, the next major update to the operating system for the iPhone, with new customization features, a redesigned Photos app, and more. iOS 18 features new customization tools for the Home Screen. App icons now feature Dark Mode and users can tint them with a color to create a unique look. Apps can also now be placed anywhere on the Home Screen freely. The Control...
WWDC24 Live Coverage Article

WWDC 2024 Apple Event Live Keynote Coverage: iOS 18, Apple's AI Push, and More

Monday June 10, 2024 9:20 am PDT by
Apple's Worldwide Developers Conference (WWDC) starts today with the traditional keynote kicking things off at 10:00 a.m. Pacific Time. MacRumors is on hand for the event and we'll be sharing details and our thoughts throughout the day. We're expecting to see a number of software-related announcements with a focus on Apple's efforts to infuse AI throughout its operating systems and apps....
iOS 18 Siri Integrated Feature

Massive iPhone Upgrade Coming This Week But These Devices Will Miss Out

Sunday June 9, 2024 1:25 pm PDT by
Apple is planning a major AI overhaul in iOS 18, with a feature set it is referring to as "Apple Intelligence." However, these new features will not work on older iPhones, even if they do appear on the new operating system's device compatibility list. Apple's initial AI roadmap for iOS 18 is said to come in two parts: Basic AI features that will be processed on-device, and more advanced...
m3 macbook air purple

Amazon Introduces Record Low Prices on Every M3 MacBook Air

Sunday June 9, 2024 7:57 am PDT by
On Friday we tracked new all-time low prices on the 13-inch M3 MacBook Air, and today Amazon has expanded this sale with record low prices on the 15-inch models as well. Thanks to these additional deals, every single model of the M3 MacBook Air is now available at an all-time low price. Note: MacRumors is an affiliate partner with Amazon. When you click a link and make a purchase, we may...
Next Gen CarPlay WWDC24 1

Apple Provides Updated Look at Next-Generation CarPlay at WWDC 2024

Monday June 10, 2024 7:11 pm PDT by
Apple today shared a few WWDC 2024 coding sessions related to its upcoming next-generation CarPlay system ahead of its launch later this year. The sessions include lots of updated next-generation CarPlay images, with one revealing new Vehicle, Media, and Climate apps in action for the first time. MacRumors previously discovered evidence of these apps in the iOS 17.4 beta. Next-generation...

Top Rated Comments

sualpine Avatar
125 months ago
But... but... Tim Cook...but...but..Steve Jobs....but...but...Android...
Score: 8 Votes (Like | Disagree)
Mtmspa Avatar
125 months ago
How do you people buy stock? Could anyone tell me in PM?
If you don't know that answer the market is not the place for you.
Score: 7 Votes (Like | Disagree)
marklemac Avatar
125 months ago
I bought my stock at $20 a share back in 1996 :)
Score: 6 Votes (Like | Disagree)
Keerock Avatar
125 months ago
Wow, harsh answer

If you don't know that answer the market is not the place for you.

At some point before someone became market savvy they were not. Everyone at one point knew nothing about equities before they did.
Score: 4 Votes (Like | Disagree)
Swazaloo Avatar
125 months ago
If you don't know that answer the market is not the place for you.

Exactly. If you weren't born knowing how stocks work, then don't even bother trying to learn. They are not for you.
Score: 4 Votes (Like | Disagree)
the8thark Avatar
125 months ago
Booya!

Nice when the market corrects AAPL upwards for once, as it should.

It's so obvious to see, (at least to me), but the shares have been held back so badly for a long time. Now we have the big money players seeing the value here, and that's good for shareholders.
Like Carl Icahn?

Score: 4 Votes (Like | Disagree)