Apple’s stock rose 2 percent in after-hours trading today, the company’s best-ever quarter of revenue and profit. The tech giant’s market capitalisation has now grown to more than $1.4 trillion, further cementing its position as the world’s most valuable technology company. Only Saudi Aramco is worth more.
AAPL is currently hovering around $312 in pre-market trading. As the Guardian points out, Apple’s valuation now exceeds the combined market capitalisation of Germany’s 30 largest listed companies on the Frankfurt stock exchange.com.by Deutsche Bank.
The DAX is worth $1.36 trillion, including commercial software giant SAP ($162 billion), chemical company Linde ($111 billion), engineering and industrial group Siemens ($108 billion) and insurance group Allianz ($100 billion).
The figures were a response to Apple’s strong results last night, when it reported revenue of $91.8 billion, with quarterly net income of $22.2 billion, or $4.99 per diluted share, while revenue was $84.3 billion and quarterly net income was $20 billion, or $4.18 per diluted share a year earlier. It was undoubtedly the best quarter in Apple’s history, surpassing the first quarter of 2018.