Tesla CEO Elon Musk there was a run-in Apple. AAPL In the past. That hasn’t stopped billionaires from giving credit as they deserve.
Musk responded to a tweet by World Of Statistics’ Twitter handle @stats_feed. Said Apple’s market cap is worth more than the combined market cap of 11 blue chip companies with strong positions in their respective fields. Here are the companies mentioned and their market caps as of Friday’s close:
- Coca-Cola Company unit: $259.82 billion
- Starbucks Co., Ltd. SBUX: $120.57 billion
- Nike Inc. NKE: $196.33 billion
- walmart company WMT: $379.01 billion
- ExxonMobil XOM: $466.81 billion
- AT&T Corporation T.: $137.05 billion
- Visa Co., Ltd. Ⅴ: $475 billion
- walt disney company DIS: $188.71 billion
- McDonald’s Co., Ltd. MCD: $196.71 billion
- ford motor company debt: $49.85 billion
- netflix inc. NFLX: $152.42 billion
All but four of these companies are members of the Dow Jones Industrial Average, an index of 30 blue chip stocks representing major sectors.
The combined market capitalization of these companies is now $2.62 trillion. That equates to his $2.18 trillion, which is Apple’s current valuation. Since the tweet was posted, it’s not clear if the market cap is related to Thursday’s closing price or intraday value.
“Wow,” Musk said in response to the tweet.
See also: Today’s Best Tech Stocks
Important reasons: Apple is the world’s most valuable company and consistently shows fundamental outperformance. The company’s products combine both practical value and aesthetic appeal.
The company derives about half of its revenue from the iPhone, an iOS smartphone. The Mac and iPad are also one of Apple’s hottest products. The company’s massive installed device base has helped it grow its services business built around its hardware products.
Apple has been touted as an all-weather stock that has performed well regardless of economic conditions.wedbush analyst Daniel Ives said in a recent memo that the company’s products/services are more resilient than people think. Apple should remain “the name of the Rock of Gibraltar until 2023,” he said in a separate note.
The stock closed Friday at $137.87, up 1.92%, according to data from Benzinga Pro.
READ NEXT: Apple Defies Massive Layoffs Across Tech Industry: Here’s How Cupertino Avoids Job Cuts
Photo: Courtesy: Dunk from flickr.