Apple's Market Cap Surpasses France Italy Poised to Top India's GDP

23 Jan, 2024

Apple's market cap has achieved an unprecedented milestone, surpassing the USD 3 trillion mark and positioning itself as a potential contender to surpass the GDP of India.

The surge in IT industry dynamics has propelled Apple's stocks to an all-time high, consolidating its financial strength. This remarkable feat places Apple's market valuation ahead of the economies of all but the top six countries globally.Following a remarkable week on Wall Street, Apple's shares experienced a minor decline on Friday's market closure, resulting in an overall market cap of $3.066 trillion.

Notably, this surpasses the economies of both Italy and France. As of now, Apple's market cap is only surpassed by the GDP of six countries: the United States, China, Japan, Germany, India, and the United Kingdom.Anticipating a continued rise in Apple's stock when the markets reopen on Monday, there is speculation that the company's valuation may soon exceed that of the United Kingdom.

With its current growth trajectory, there's a likelihood that Apple's market cap could outpace India's GDP in the coming months.It's worth noting that Apple's market cap has not only exceeded the entire French stock market but also the combined value of all companies listed on the Paris exchange. Despite a recent dip in Apple shares and a spike in the French stock market, Apple remains a dominant force.

In 2023, Apple stocks witnessed a remarkable surge of over 55 percent, reaching a valuation of $3 trillion in December. With its stellar performance on the NASDAQ, Apple is poised to conclude 2023 as the world's most valued company.Stay updated with the latest news and insights! Unlock a world of benefits with HT, offering insightful newsletters, real-time news alerts, and a personalized news feed. Don't miss out on Budget 2024 updates, business news, and more on the Hindustan Times website and apps.

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