Apple Now Worth More Than Germany's Entire DAX Stock Index
Apple's shares jumped 2 percent today in after-market trading, following the company's best reported quarter ever in terms of revenue and profit.
The tech giant's market capitalization has now grown to over $1.4 trillion, further cementing its place as the world's most valuable tech company. Only the Saudi Aramco oil company is worth more.
AAPL is currently hovering around $312 in pre-market trading. As The Guardian points out, Apple's valuation is now more than Germany's 30 largest listed companies that make up the DAX index on the Frankfurt Stock Exchange.
The DAX is worth a combined $1.36 trillion, including business software giant SAP ($162 billion), chemical company Linde ($111 billion), engineering and industrial conglomerate Siemens ($108 billion), and insurance group Allianz ($100 billion).
The figures are a response to Apple's glowing financial results last night which saw the company post revenue of $91.8 billion and net quarterly profit of $22.2 billion, or $4.99 per diluted share, compared to revenue of $84.3 billion and net quarterly profit of $20.0 billion, or $4.18 per diluted share, in the year-ago quarter. The quarter was the best in Apple's history, topping the first fiscal quarter of 2018.