After hitting its all-time high market capitalisation of $3 million last week, Apple could soon surpass Indian economy. The iPhone maker's latest valuation is now larger than world's major economies with the Apple stock pinned above world powers like France and Russia.
The world's largest economy – the US – makes up for a quarter of the global GDP at $25.5 trillion. It is followed by China ($18 trillion), Japan (S4.2 trillion) and Germany ($4 trillion), as per World Bank data. Slightly above Apple's market capitalisation are India ($3.4 trillion) and the UK ($3.07 million).
The market cap of Apple, which is now placed above France's $2.78 trillion and Russia's $2.24 trillion economies, is also close to overtaking the Paris stock market, which is estimated to be around $3.2 trillion, reported Business Insider.
Apple is followed by Microsoft, another US tech giant, with a market cap of $2.78 trillion, Saudi Aramco at $2.14 trillion, Google parent Alphabet at $1.65 trillion and Amazon at $1.51 trillion, according to a Forbes list compiled on December 4. Other companies in the Top 10 are Nvida ($1.15 trillion), Meta Platforms ($834.76 billion), Berkshire Hathaway ($777.3 billion), Tesla ($759.22 billion) and Eli Lilly ($554.43 billion).
The Cupertino giant's stock's latest rally is attributed to the US Federal Reserve's decision to keep the interest rates unchanged and hints at lower borrowing costs in 2024. The tech major has already surged more than 50 per cent this year.
