At the moment, Apple’s market value is equal to Microsoft + Google’s.
That’s just how crazily big Apple has become. BUT, Apple’s current market value is NOT due to crazy valuation of tech stocks. That’s what happened in 1999 when so many tech stocks were valued at 50-100x earnings. Higher than 100x P/E was not uncommon and the analysts could justify it. Hot stocks in the moment, such as Facebook and Alibaba, are commanding high valuation of 50-100x earnings. Apple, Microsoft and Google are not as hot as that. Apple’s revenue is actually more than Microsoft and Google’s combined. Net income too. So, its super big market value has numbers to support it.
Apple has become a super mega behemoth. Its current market value is bigger than the entire Singapore’s stock market. Should I say that Singapore’s stock market is just too small then?