As the news has been constantly blaring recently, Apple now has a $1 trillion dollar market cap. That's $1,000,000,000,000. This doesn't mean that in their bank account $1T rests. In fact, it means that all of Apple's assets (like their huge new 'space ship' campus and all of their stores around the globe) and their income means that if somebody or some company wanted to purchase Apple, they would need to cough up around $1 trillion.
Tim Cook, the current CEO, sent out a message to Apple's roughly 123k employees, saying that their money is "not the most important measure" of the tech giant's popularity and scale. Cook goes on to thank his employees for, "all the times you refuse to settle for anything less than excellence." He says that it's all due to Apple's restless employees that the company has become so successful.
Tim's Full Letter to Apple Employees
It's you, our team, that makes Apple great and our success is due to your hard work, dedication and passion. I am deeply humbled by what you do, and it's the privilege of a lifetime to work alongside you. I want to thank you from the bottom of my heart for all the late hours and extra trips, all the times you refuse to settle for anything less than excellence in our work together.
Let's take this moment to thank our customers, our suppliers and business partners, the Apple developer community, our coworkers and all those who came before us at this remarkable company.
Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges — and that the people who are crazy enough to think they can change the world are the ones who do. In today's world, our mission is more important than ever. Our products not only create moments of surprise and delight, they empower people all around the globe to enrich their lives and the lives of others.
Just as Steve always did in moments like this, we should all look forward to Apple's bright future and the great work we'll do together.
Today Apple passed a significant milestone. At our closing share price of $207.39, the stock market now values Apple at more than $1 trillion. While we have much to be proud of in this achievement, it's not the most important measure of our success. Financial returns are simply the result of Apple's innovation, putting our products and customers first, and always staying true to our values.
But how much is $1 trillion dollars?
One-trillion is a one followed by 12 zeros. That's a huge number. Apple, with this market cap, could give everyone in the world a 64 gigabyte iPhone X (worth $999) for free, and still be left with a market cap of $1 billion.
If Apple were a country, it would be the 27th richest in the world, behind Pakistan. In fact, Apple could currently purchase both Netflix and Amazon, but wouldn't have much money (if any) to spare after.
Let's imagine for a second you had $1 trillion in your bank account right now. You could:
- Spend $1 million a day for 3000 years;
- Erase the 2014 trade deficit, and still have a cool $495 billion;
- Pay 11 weeks vacation for every American worker;
- Buy 5.6 million average US homes;
- Pay three years' rent for all renters in the US;
- Pay a twentieth (1/20) of the US Government's debt (wow).
It's a crazy amount of money to even comprehend.
How Apple Has Achieved This Evaluation
$1 trillion doesn't just appear from making the iconic iPhones, as many as they may sell. Apple invests their money into making products and technologies that many people use in their lives, like their yearly operating system software updates. They also have lots of property, including their many campuses and retail stores. Apple's venture into music with Apple Music has amassed 36 million subscribers, each paying $9.99 a month. Furthermore, if you need to upgrade your iCloud Storage, the tech company charges various amounts for storage, starting at 79 cents a month.
So we've established Apple's worth and how you could spend that type of money in this article. But what do you think? Do you think Apple should be valued at $1 trillion? How do you think they should spend that money. Please let me know!
Thank you for reading.