Apple Inc Exceeds Value of Entire UK Stock Market
The Apple share price was getting a bit too high so Apple execs very recently gave away free shares to existing shareowners. This shouldn’t have affected the value of anyone’s total shareholding, theoretically, stockholders should now own twice the number of shares but valued at half the old price. Except it didn’t quite work that way, stock market commenters point out that the shares became individually more affordable and so more accessible to retail punters. I don’t quite buy that argument but let’s go with it.
Anyway, ‘someone’ did pile in and buy the shares and the share price went up (again) to the point where the total value of Apple ($2.3tn) was more than the total value of the UK’s FTSE-100 index…ie the main UK stock market. Jeez, I’m proud to be British/English/European and all that, but it’s just embarrassing. I think we once used to rule the world with the biggest land & sea empire ever known (FYI 26% of the world) and we were the best at soccer for a brief while (mostly when no-one else played it). Now, all we have is a stock market full of companies that do stuff elsewhere and together still aren’t as good as one specific American tech giant.
So the obvious next patriotic step for me to take next week is to go and buy an Apple Watch 6 and edge that Apple share price just a little bit higher.
Note: The rise in Apple today also coincided with a fall in the UK stock market for a variety of reasons but mostly because the companies that comprise the FTSE100 tend to earn profits overseas and GBP strengthened today meaning those overseas earnings were worth less. It’ll all change soon #Crash2020 v2?