How Apple is worth more than UK’s current stock market?
By Felicia Nwosu
Tech giant, Apple Inc. is an American multinational technology company headquartered in Cupertino, California, the United States of America. Founded on April 1, 1976 by Steve Jobs and Steve Wozniak, these two individuals brought to the company a vision of changing the way people viewed computers and, at the same time, ensured that their products are powerful yet inclusive by making consumers feel like part of a group that is sleek, stylish and elite.
Since then, its pioneering expansion into various industries and new services such as Apple Pay and iTunes has helped to propel Apple into becoming America’s first $700 billion company while its branding strategy has always focused on emotion bolstered by a forward-thinking creative visionary, Steve Jobs.
Today, the global tech giant, Apple, has recorded another unprecedented feat by breaking the world record with its current market capitalization of about $2.7 trillion, to exceed the entire market capitalization of the United Kingdom, which is popularly known as the third biggest stock market in the world. This is in accordance with the data released by the World Equity Market Capitalization.
With this remarkable milestone in its growth trajectory, Apple’s current equity will be placed higher than the entire U.K. stock market and twice as big as all of Germany.
The tech hub has beaten down about 595 companies that list in the United Kingdom, it’s bigger than all the companies in France (235 companies), and India (1,242 companies). Apple is ranked twice the size of Germany’s entire stock market, with 255 companies.
Apple’s inspirational branding success story rests on the fact that, for this iconic brand, trust is key as it ensures that its brand’s influence is only as powerful as a consumers’ belief in its name. Its perceived value by consumer’s evaluation of its benefits over others has placed the company as one of the world’s most valuable and successful companies. This is also one of the reasons why customers may be willing to pay a higher price because they deem the brand to be of a high quality and/or a status symbol. This has continued to inspire the heart of Apple’s for its continued success over its competitors.
Over the years, the iconic status that Apple has received among its hardcore fan-base explains why they can charge so much more than their rivals, despite the technology itself being of more or less the same quality.
In its journey of meeting consumers at their touchpoints, Apple has put a priority on building a community of dedicated fans in an almost religious fashion. It achieves this by maintaining an aura of secrecy surrounding the inner workings of its brands, the hype surrounding their product releases is unrivaled; creating conversations among both techies and laymen alike.
Apple has always positioned itself as something different; they “Think different in all its products and brands by wiring the minds of consumers to get inseparably connected with the brands. Its brand purpose helps it to build an infallible brand loyalty, especially the air of premium exclusivity that Apple employs when promoting new product releases, and the meticulous attention to the aesthetics of its products.
Apple stands out for its high degree of differentiation and continued diversification across its hardware, software and services portfolio. Apple is a phone, a watch, a laptop, a tablet, a streaming service, a protector of digital privacy, all of which resonate with consumers.
All these no doubt have accelerated and propelled the growth trajectory of Apple’s equity. With a brand value net worth of $2716.19B as at May 17, 2023, it’s now Apple vs. the world.
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