Apple Becomes the First Company to Hit $700 Billion Mark

•   March 5,2015
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News from the share market states that Apple, the U.S. tech giant is the first company to attain a market value of $700 billion as a result of the profits from the smartphone market and its soon-to-arrive smartwatch. The company’s share value increased to 1.9% closing at $122.02, resulting in a market value of $710 billion and becoming the first company to reach the $700 billion milestone. 

Tim cook, chief executive, Apple stated at the Goldman Sachs Technology & Internet Conference that the company accumulated something around $50 billion of revenue from the emerging markets during the past calendar year.

"We've taken (the mobile operating system) iOS and extended it into your car, into your home, into your health. All of these are really critical parts of your life," Cook said.  "We want one seamless kind of life. And so, I think that is huge for our future...We also did a lot of things to further our global footprint. And so, if you look at what we've done in China, we've opened more stores there. We've opened a lot more distribution there. Through the world, we've opened almost 20,000 new points of sale. We've opened 27 new Apple Stores, lot of flagship stores,” he further added.

Analysts state that the company still has a sufficient room to grow, Brian White, analyst at Cantor Fitzgerald says “Given Apple's powerful iPhone cycle, a big 4G ramp in China and the upcoming launch of Apple Watch in April, we believe there is still plenty to look forward to at Apple during this transformational cycle. At the same time, we believe Apple's valuation has room to expand from depressed levels."

Various feature and applications of the Apple smartphone has a major share for the valuation of the company. The company has managed to beat the analyst’s expectation in terms of sales and revenue. 

Reports has it that Apple committed for $848 million in solar energy to power the data centers of the organization. Cook states that the project is “our biggest, boldest, and most ambitious project ever" and further added that it is part of Apple's commitment on corporate responsibility and clean energy.