Technology giant Apple is worth more than the combined value of all Russian public companies for the first time.
Apple is now worth more than Russia’s stock market, new data have revealed.
The US technology giant’s market capitalisation has overtaken the combined value of all Russian public companies for the first time in history, Bloomberg reported.
Apple, the world’s most valuable company, has added $147bn to its market cap this year and was worth $652bn as of November 12. The shares closed up 1.2pc to $114.18 each on Friday.
Russian equities have fallen $234bn to $531bn in the same period, Bloomberg data stated.
Apple, led by Tim Cook, has being going from strength to strength in recent months, culminating in the release of the company’s latest smartphones in September – the iPhone 6 and iPhone 6 Plus
Source: The Telegraph