So Apple, which started out as a small computer business in Cupertino California in 1976 is now the world's second biggest company. How quickly things change.
Bloomberg faithfully reported this week that Apple earned that status this week when it overtook PetroChina Corp. As a company, Apple is now worth $267 billion, making it second only to Exxon Mobil which has a market cap of $311 billion. Apple slipped back to number three spot when the market closed but it's a sign of what's ahead.
The big driver of Apple's value has been the iPhone. Since launching it in 2007, Apple's shares have tripled.
Let's just do some numbers here. As of September 2009 Apple Inc., had a workforce of nearly 35,000 full-time employees and 3,000 temporary full-time employees. What would happen if the company decided to divide the market value among its employees? Do the numbers. Each worker would get $7 million.
Not that this will happen. But it does give you an idea of how what was once a small computer company is now changing the shape of the market.