After Steve Jobs returns to the then troubled Apple in the year 1996, many things have changed. Apple has branched out from just producing computer to produce Mp3 players (iPad), handheld phones (iPhone) and has also set up iTune store for online sale of songs, movies and applications.
Now Apple has become the third largest company in US behind Microsoft. The company’s market capitalization (a measurement of size of a business enterprise by multiplying the share price with shares outstanding) hits $198.5 billion on March 9 after the company has announced the iPad’s ship date which placed it as one of the five most valuable US companies then, behind Wal-Mart. The market cap has since climbed all the way to $213.9 billion on March 30 which finally placed it on the third spot ahead of Wal-Mart and Bershire Hathaway.
The upward trend of the company’s share doesn’t just stop there are analysts are expecting the share price to hit $300 a share which results in a market cap of $272 billion and thus might even surpass Microsoft.
Will Apple be able to beat its long time rival? We will have to wait and see.
