As of now, Apple Inc. has set a new record for the stock market as it has become the first company to have a market value of over $700 billion. In contrast, its main rivals Google Inc. and Microsoft Inc. are worth considerably less, valued at $363 and $349 billion respectively. This development can certainly be called a win for Apple as they have only further cemented their positions as one of the top companies in the United States, if not the world. The news also proves that Apple’s products are still quite popular among consumer, even though newer versions of products like the Iphone and the Ipad have often been seen as merely thinner than the previous model. It seems as if Apple has silenced criticisms with its current gains.
Apple CEO Tim Cook attributes the new market value to the company’s amazing performance in China. Cook states that the rapid economic growth in China allowed for the formation of a large middle class. These new consumers had the potential to become a big market for smartphones and Apple capitalized on that opportunity, making nearly $38 billion in profits from smartphone sales. The company also fared quite well in the domestic market. When the new Iphone 6 and 6+ were released in September, there were predictably long lines around nearly every Apple store in the country, filled with customers who wanted the latest version of Apples’s aesthetically pleasing Iphone. Domestic sales for the new models totaled around $18 billion, another sales record broken for the already distinguished company. Apple once again did very well this year and is expected to grow at an even faster rate next year.
For now, the only questions that remain about Apple are what it has planned for the future. Tim Cook announced that that the company has planned to invest $860 million in building a solar farm in California. The farm is expected to cover 2,900 acres and should power around 60,000 homes, along with Apple’s future headquarters in Cupertino. Apple also unveiled plans for a new IWatch, and plans to release the innovative piece in April this year. So far, 2015 has proven to be a momentous year for Apple and it is possible that the resulting years can be just as great if Apple continues to stay at the forefront of marketing and design.