1. For first time ever, Apple market value crosses $800 billion: CNBC

For first time ever, Apple market value crosses $800 billion: CNBC

Apple's market value has crossed $800 billion for the first time ever.

By: | Updated: May 9, 2017 12:13 AM
According to Bloomberg, Apple’s total revenue have risen by 4.6% over the last 3 months ended 1 April as compared to a year earlier. (Reuters)

Despite reports saying that Apple’s share price and valuation as a whole has logged anaemic growth by the company’s standards – shares have jumped 27 per cent this year according to Bloomberg – the tech major has pulled off yet another surprise and created another record today. According to CNBC, Apple’s market value has crossed $800 billion for the first time ever. The optimism may well be coming from hopes that the next iPhone sales will skyrocket despite stiff competition from South Korean rival Samsung.

According to Bloomberg, Apple’s total revenue have risen by 4.6% over the last 3 months ended 1 April as compared to a year earlier. However, also revealed was the fact that the sales of iPhones have fallen as much as 0.8%.

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A major iPhone revamp is due in later part of 2017 – it has been tagged as iPhone 8 and it will come on the 10th anniversary of the handset. According to Bloomberg, rivals have unveiled their high-end phones and the effect on sales can be seen here: 50.8 million iPhones were sold in the quarter ended April 1. Compare this from 51.2 million sold by the Cupertino, California-based company over same period a year earlier. Bloomberg quoted CEO Tim Cook as saying, “We’re seeing what we believe to be a pause in purchases of iPhone, which we believe are due to the earlier and much more frequent reports about future iPhones.” As far as numbers are concerned, Apple still is an eye-ball grabber – it has $257 billion in cash and equivalents at the end of the quarter. However, competition is getting fierce as apart from Samsung, Chinese smartphone makers Huawei, Oppo and Vivo too are grabbing

Bloomberg quoted CEO Tim Cook as saying, “We’re seeing what we believe to be a pause in purchases of iPhone, which we believe are due to the earlier and much more frequent reports about future iPhones.” As far as numbers are concerned, Apple still is an eye-ball grabber – it has $257 billion in cash and equivalents at the end of the quarter. However, competition is getting fierce as apart from Samsung, Chinese smartphone makers Huawei, Oppo and Vivo too are grabbing marketshare. And though Apple benefitted from Samsung Galaxy Note 7 smartphone fiasco last year, the Korean company has introduced the Galaxy S8 in April.

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