Technology giant Apple Inc (NASDAQ: AAPL) passed the $3 trillion market capitalization threshold on Friday for the second time in history.
While Apple is the largest publicly traded company, here’s a look at the companies it equals by market capitalization which can put things in perspective.
What Happened: Apple is once again worth more than $3 trillion based on its market capitalization. The technology giant is one of six public companies valued at $1 trillion or more.
With a market capitalization of $3.05 trillion, Apple is now over $500 billion ahead of second place Microsoft, which is valued at $2.50 trillion. The company is also worth more than Alphabet and Amazon combined.
To put things even more into perspective, Apple is now worth as much as five of the largest U.S. retailers and beverage companies combined.
Here’s the list:
Amazon.com, Inc. (NASDAQ: AMZN): $1.35 trillion
Walmart Inc (NYSE: WMT): $425.7 billion
Home Depot Inc (NYSE: HD): $312.9 billion
Costco Wholesale Corporation (NASDAQ: COST): $238.4 billion
Lowe’s Companies inc (NYSE: LOW): $132.2 billion
Coca-Cola Co (NYSE: KO): $261.8 billion
PepsiCo, Inc. (NYSE: PEP): $254.4 billion
Total Combined: $3.00 trillion
Apple is worth the combined value of the five retailers and two beverage giants and still has $5 billion to play with.
Why It’s Important: Apple stock is up 54% in 2023 through the first six months of the year and shows no signs of slowing down.
Analysts see the stock being a top performer in the second half of the year, which could increase its market capitalization and lead over other companies.
The statistics above show that Apple is worth more than many companies together across sectors. This article used the five largest retail companies in the U.S. with Amazon ranking fifth, Walmart ranking 17th, Home Depot ranking 27th, Costco ranking 36th and Lowe’s ranking 92nd.
Add in two of the largest global beverage companies in Coca-Cola and Pepsi, which rank 32nd and 33rd respectively and it still doesn’t equal the value of Apple.
The increase in Apple’s price has helped propped the overall market higher with the company being one of the top-performing Dow Jones Industrial Average and S&P 500 stocks in 2023 year-to-date.
Produced in association with Benzinga
