Apple’s market value approaches that of Europe’s largest stock market: France

Near its all-time intra day high on Wednesday, Apple’s market value is approaching that of Europe’s largest stock market: France.
Subrat Patnaik and Michael Msika for Bloomberg News:
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The combined market value of companies listed in Paris was about $3.2 trillion as of Wednesday’s close versus the technology giant’s $3.1 trillion, according to an index compiled by Bloomberg. Apple is larger than all but the six largest stock markets in the world.
It’s not the first time the Cupertino, California-based company eclipsed Paris in value. The duo swapped positions a number of times during last year’s second-half selloff as central banks raised interest rates to tackle inflation.

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MacDailyNews Take: As we wrote on May 3, 2018 when Apple closed at a split adjusted $41.99:
Even near an all-time high, the case can be made convincingly that Apple is woefully undervalued.
We’re not sure that most analysts or investors can really wrap their minds around the vast amounts of money that the machine that Steve Jobs built has generated, is generating, and is capable of generating going forward.

The recent surge for Apple is a big reversal from October, when the stock was pressured by concerns about revenue growth and sales in China.

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MacDailyNews Take: As we wrote on October 26th when Apple closed at $166.67:
Last year, iPhone supply was notably impinged due to China’s quixotic “Zero COVID” shutdowns affecting unit assembly, so if demand is “essentially in-line with last year across the U.S., China, Europe and Japan” and supplies are materially better this year, what does that tell you?
Additionally, we suppose it’s somehow “bad” news that Apple’s most expensive flagship remains in high demand?
As always, profit from the fomenters.
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