Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Market Views

Apple market capitalization nears $2 trillion, as Apple’s CEO becomes a billionaire

Olumide AdesinabyOlumide Adesina
2 years ago
in Market Views
U.S stock futures trade flat, Apple regains $2 trillion market value, Apple iPhone 11, Tax battle: Apple challenges $14 billion court case , Apple to pay $500 million settlement in lawsuit over slow iPhones, Apple supplier Foxconn to reopen manufacturing base in China, Apple donates 10 million face masks to healthcare workers, App developers can now challenge Apple store guidelines 

Apple's CEO, Tim Cook

Share on FacebookShare on TwitterShare on Linkedin

Almost a decade after Apple’s founder Steve Jobs stepped down and passed the leadership baton to Tim Cook, the new CEO has been leading the world’s most valuable company to astronomical highs.

Last week, the tech firm’s share price gained almost 5% last week. This has caused Apple (which Jobs co-founded about five decades ago at his parents’ California home) to reach a milestone market value of nearly $2 trillion. As at the time Jobs died, the company’s market valuation was around $350 billion.

Meanwhile, Apple’s current CEO, Tim Cook has now joined one of the most elite clubs for CEOs who didn’t actually create companies they run. His net worth has now reached $1 billion, according to calculations by the Bloomberg billionaires index.

Cook’s net worth estimates are calculated on analysis of regulatory filings and apply the market performance of a typical wealthy investor to his proceeds from share sales.

Why is Apple’s valuation surging?

The era of high quantitative easing in 2020 has helped global stock traders raise funds, for placing more bets in growth stocks like Apple, thereby resulting in their astronomical rise in valuations in spite of COVID-19. These companies also have good macros in their businesses, partly due to low debts, high-profit margins, and the fact that more people are isolated and mostly working remotely on their iPhones and Macbooks.

Cook, 59, disclosed five years ago that he plans to give most of his fortune away. Already, he has gifted millions of dollars’ worth of Apple shares. His wealth could be lower if he has made other undisclosed charitable gifts.

“This tech cycle has been way bigger and longer than I thought,” said Hussein Kanji, a partner at venture capital firm Hoxton Ventures who had expressed caution about Apple’s long-term outlook after Jobs left the company. “Out of all these stocks, Apple has become the greatest cash generation machine in history.”

Recall that about two weeks ago, Nairametrics reported about how Apple recorded a major feat recently by becoming the biggest publicly listed company in the world. This feat was recorded when Apple’s shares gained over 10% to a record high on Friday after reporting impressive quarterly results.

Related

Tags: AppleBloomberg Billionaires IndexCovid-19Hoxton VenturesHussein KanjiSteve JobsTim Cook

Leave a Reply Cancel reply

HFM
Mega Millions
Mega Millions
Standard
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Emefiele replies Kano State Governor, says he doesn’t understand connection between cash swap and security issue
  • 9 people including children killed as container falls on a bus at Ojuelegba, Lagos
  • Currency Swap Deadline: CPPE says 10-day extension is inadequate

Follow us on social media:

Recent News

Emefiele replies Kano State Governor, says he doesn’t understand relationship between naira redesign and security issues

Emefiele replies Kano State Governor, says he doesn’t understand connection between cash swap and security issue

January 29, 2023
9 people including children killed as container falls on a bus at Ojuelegba, Lagos

9 people including children killed as container falls on a bus at Ojuelegba, Lagos

January 29, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds

© 2023 Nairametrics