Published By : 11 Feb 2015 |Published By : QYRESEARCH
On Tuesday, it was reported that Apple became the very first company that reached a market worth of US$700 billion. This was the outcome of surging share prices and the upbeat news with regard to a soon-to-be launched smartwatch that will be introduced in the market. The share prices increased by 1.9% thereby, ensuring that the company surpassed the UTS$700 billion mark and reached a market value worth US$710 billion.
Tom Cook, the chief executive of Apple expressed that Apple had hit its stride. He also stated that their services such as iOS and the typical mobile operating mechanisms will soon be introduced in areas such as healthcare, automobile, and home. Tim Cook also pointed out to the fact, that Apple has established several stores in China, in order to expand their global reach in the long run. Apple has taken to a lot of distribution activities in China. As a matter of fact, the company has set up close to 20000 several selling points and about 27 new stores of Apple.
Cook stated that during the previous year, Apple had taken US$50 billion worth of revenue in some of the emerging markets. Several analysts have concluded that there is enough room for further growth for this tech company. Analysts also firmly believe that Apple can easily make its way through depressed levels since the company’s valuation can expand further, and can proper as well. The shares of Apple remained more or less reasonable since the company reported a quarterly profit worth US$18 billion.