Apple has how much in Cash!? Wow!
It goes without saying that technological giant Apple probably makes pretty decent coin off of their products, from high-end laptops to the latest in mobile phone innovation with their latest release the iPhone X, we got to wondering just how well the company is doing after its most recent launch.
After the iPhone X hit the market earlier this year, at a value of $999, even Wall Street was surprised just how much the company surpassed expectations and saw its stocks rise to a record high by morning.
For the first time earlier this year, Apple was evaluated to be worth 900 billion dollars. A pretty penny for a company that started out mostly in a suburban home’s garage. Shares in Apple saw a rise of more than 3 percent by the time the opening bell was rung, after hopefuls waiting outside all night to be some of the first to purchase the latest craze in iPhone tech.
The iPhone X represents the company’s tenth anniversary of their mobile devices and integrated many upgrades from previous devices including facial recognition, a steel and glass chassis, edge to edge screen and the removal of the home button.
Chief executive officer Tim Cook said that although he too was surprised as to how high demand was for the new iPhone, they are not expecting to see the hype slow down as they enter the next quarter.
This high evaluation certainly reflects a positive future expectation from all of Apple’s investors and consumers alike, and it should be expected that we will continue to see high growth and innovations from Apple shortly.