Friday, Sep 20, 2024

Apple just eclipsed a $3 trillion valuation. Here are 8 things the iPhone maker is now bigger than, including France’s economy and India’s entire stock market.

An Apple Store in Shanghai, China.
  • It can be difficult to grasp just how big Apple's ascent to a $3 trillion valuation really is.
  • The iPhone maker's market cap makes it bigger than France's economy and double the size of India's entire stock market.
  • Here's what else Apple is now bigger than after it became the first company to reach the $3 trillion milestone.

Apple's ascent to a $3 trillion valuation makes it the highest valued company in the world, but that size can be difficult to grasp given just how big that number is.

That's 3,000 billions, or 3 million millions. That's also slightly bigger than France's annual gross domestic product, and its nearly double the size of India's entire stock market.

To fully appreciate just how big Apple's current $3 trillion valuation is, Insider compiled a list of the different economies and country stock markets that are now eclipsed by the size of one single American company.

The massive size of Apple is backed up by its underlying business of selling high-tech products that have a massive ecosystem built around it, making it more and more difficult for its customers to leave for a competitor. Apple is on track to generate $400 billion in annual revenue and $100 billion in annual profit.

While the iPhone makes up the bulk of Apple's business, even Apple's AirPods are estimated to generate enough annual revenue that would make it a Fortune 500 company if it were a standalone business.

Here's what else Apple is now bigger than after it became the first company to close above a $3 trillion valuation on Friday, according to data from Bloomberg and Dimensional Fund's 2023 Matrix Book.

8. Germany's Entire Stock Market


oktoberfest

Number of companies: 255
Combined value: $1.33 trillion

7. India's Entire Stock Market


New Delhi India
Indian Muslim families gather in the compound of Jama Masjid to break their day-long fast in New Delhi, India, Wednesday, June 14, 2017.

Number of companies: 1,242
Combined value: $1.44 trillion

6. Italy's Entire Economy


Tourists at the Colosseum in June 2022
Tourists at the Colosseum in June 2022.

Italy's 2022 GDP: $2.01 trillion

5. Canada's Entire Economy


Toronto, Canada

Canada's 2022 GDP: $2.14 trillion

4. China's Entire Stock Market


Beijing, China.
Beijing, China.

Number of companies: 2,119
Combined value: $2.53 trillion

3. The United Kingdom's Entire Stock Market


buckingham palace rainbow
A man holds a Union flag umbrella as a rainbow is seen outside of Buckingham Palace on September 8, 2022 in London, England.

Number of companies: 595
Combined value: $2.62 trillion

2. France's Entire Economy


The Eiffel Tower, lit up against the night sky
The Eiffel Tower in Paris, France.

France's 2022 GDP: $2.78 trillion

1. The Combined Value of Bottom 200 Companies in the S&P 500


US investors new york stock exchange wall street

Combined value: $2.92 trillion

Read the original article on Business Insider
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By: [email protected] (Matthew Fox)
Title: Apple just eclipsed a $3 trillion valuation. Here are 8 things the iPhone maker is now bigger than, including France’s economy and India’s entire stock market.
Sourced From: markets.businessinsider.com/news/stocks/apple-bigger-than-france-economy-india-stock-market-3-trillion-2023-7
Published Date: Sat, 01 Jul 2023 12:30:00 +0000