Apple to Overtake Combined Value of Companies in Spain, Greece, Portugal
Apple's market value is about to overtake that of all the public companies in Spain, Greece, and Portugal combined which together make less profit than the U.S. company, reports Bloomberg.
The CHART OF THE DAY shows the equity capitalization of Cupertino, California-based Apple, the world's most valuable company, and that of the three European countries at the center of Europe's sovereign-debt crisis, according to data compiled by Bloomberg. The total market value of the nations' public companies in November 2007 was 11 times that of Apple's before $1 trillion was wiped off their shares.
Apple's net income during the past year was $33 billion, one billion more than the $32 billion of combined earnings reported by all the public companies in those three European countries.