Was $3 Trillion the Top on Apple Stock?
Big numbers can be hard to wrap your mind around, especially when they appear as digits on a screen. Consumer electronics titan Apple (NASDAQ: AAPL) recently hit $3 trillion in market cap, an astonishing feat for the iPhone maker.
Apple is a company that everyone knows; more than one billion people use iPhones. It's arguably the most dominant company on Earth. But what does the future hold for Apple investors? It's essential to understand the magnitude of Apple's success and the risks it now faces.
Apple's market cap now sits at $2.8 trillion after falling slightly from its recent peak. For reference, the next highest market cap belongs to Microsoft at $2.3 trillion. There's a cool $500 billion gap between the two. It's hard to visualize just how massive these numbers are. For example, let's consider the automotive industry; it's the largest purchase most people make in their lives outside of their homes. If you add up the current market cap of the world's 10 largest automotive companies, the result would be roughly $2 trillion. You could fit them inside Apple and have almost a trillion dollars to spare!
Source Fool.com
