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Apple becomes first company to hit $3T market value
- pjmlp 5y agoIt is still kind of ironic to see how it progresses every year, when being there during the days it needed Microsoft money to avoid insolvency.
- vipa123 5y agoHow many years has it been since they reached $1T?
- sschueller 5y agoMeanwhile the people who are making iPhone are working in abhorrent conditions. [1] Apple has huge margins and is hording ridiculous amounts of cash. There is zero reasons for this. Shame on all of us for letting this go on. https://www.reuters.com/world/india/women-force-change-indian-iphone-plant-sick-bad-food-crowded-dorms-2021-12-30/ https://www.reuters.com/world/india/women-force-change-india...
- olliej 5y agoI mean while not great, Apple does seem to be the only company that audits its suppliers for such things. It's dropped suppliers for repeated infractions. I think a key issue here is making it about Apple gets press. It doesn't matter if others are worse, articles about them don't get press.
- nojito 5y agoWasn’t that plan shutdown by Apple? https://www.cbsnews.com/news/apple-india-foxconn-iphone-plant-probation-mass-food-poisoning-protests-tamil-nadu/ https://www.cbsnews.com/news/apple-india-foxconn-iphone-plan...
- microtherion 5y agoAccording to the very article you cite, Apple was NOT "letting this go on", but shut down the plant until it improved conditions.
- olliej 5y agoI mean this is how it's reported. I've seen reports talking about poor working conditions at these factories. Sourced from ... Apple's own audits, in which they detail the fixes they required.
- vaxman 5y agoThey must put the capital to work in building the replacement for Shenzhen/Guangdong or they’re going to fall as soon as investors realize the risk of them being subject to “sudden death.” (This is not the same thing as the 40 years of doom that were predicted for them.) How realistic is it that America allows Apple to continue sourcing there while it is assisting the people of Taiwan in their evacuation? At the same time, China may disrupt Apple supply once it finds Apple is financing the obsolescence of its tech zone, though they risk a lot of civil unrest if they do. Likewise, Apple probably needs some assurances that if they yield that supply chain, the vacuum will not be filled by competitors —meaning new Western regulation and whatever infrastructure they contribute to will be held in common and accessible to competitors according to investment (which is also not ideal for Apple domination, but the alternative is continued shadow of sudden death due to politics/regulation). In any case, it’s no longer an appropriate investment for many of the funds holding it. https://video.foxbusiness.com/v/6289823383001 https://video.foxbusiness.com/v/6289823383001
- mgh2 5y agoThey are trying hard to move production to India. Plus, I will bet on Cook's logistic mastermind.
- vaxman 5y agoCook came from a PC maker. The game played against Apple for decades prior to that point was Microsoft racing all of the PC makers in China against Apple. So to prevent Google from doing that with iPad and iPhone, Cook bought up all the manufacturing capacity in China, leaving virtually none for Android (or Windows Mobile or WebOS) devices. To navigate out of China politics, the “mastermind” now has to do something that would have been ridiculous to an earlier version of himself —recreate that capacity elsewhere. Better this way, as Microsoft, Google and Amazon are all large enough to do it themselves now (and shut Apple out again, especially if China is taken away from them by the government).
- paulryanrogers 5y agoI wonder what the market value would be if Saudi Aramco were public
- valleyer 5y agoIt is. https://www.aljazeera.com/economy/2019/12/11/saudi-aramco-shares-surge-10-percent-on-stock-market-debut https://www.aljazeera.com/economy/2019/12/11/saudi-aramco-sh... Its market cap is approximately 7.13 trillion Saudi riyals, or 1.9 trillion USD.
- gruturo 5y ago...until it craters when their claimed oil reserves are found to be inflated.
- gnulinux 5y agoSaudi Aramco is public. Here: https://www.saudiexchange.sa/wps/portal/tadawul/home/?companySymbol=2222 https://www.saudiexchange.sa/wps/portal/tadawul/home/?compan...
- lsllc 5y agoApple were also the 1st company to reach a $1T market valuation in 2018: https://www.washingtonpost.com/business/economy/apple-is-the-first-1-trillion-company-in-history/2018/08/02/ea3e7a02-9599-11e8-a679-b09212fb69c2_story.html https://www.washingtonpost.com/business/economy/apple-is-the... Seems Saudi Aramco beat them to it for the 1st $2T company in 2019: https://www.cnn.com/2019/12/12/investing/saudi-aramco-2-trillion/index.html https://www.cnn.com/2019/12/12/investing/saudi-aramco-2-tril...
- TheRealNGenius 5y agosaudi Armco doesn't count
- IndexPointer 5y agoWhy not?
- reducesuffering 5y agoIsn't only like 5% of the company public float?
- matheweis 5y agoThis is a duplicate of https://news.ycombinator.com/item?id=29784670 https://news.ycombinator.com/item?id=29784670
- nikolay 5y agoWhich is another proof that the stock market is a fantasy market.