Apple Inc. (NASDAQ:AAPL)’s success in the tech market is no secret. The road to up the mountain to its current position of number one company in the world is littered with bruised and broken competitors left behind in the fight to get to the top. Apple’s latest milestone achievement of reaching $700 per share in stock price is coupled with another major feat. The company’s brand value has increased by a whopping 44%, and now stands at $130.6 billion.
This unprecedented climb in brand worth can only be attributed to Apple’s success as an innovative company. Its competitors, such as Google and Microsoft don’t even begin to compete with Apple Inc. (NASDAQ:AAPL) in brand worth. To be truthful, Apple’s brand value is nearly equal to that of Google Inc (NASDAQ:GOOG) and Microsoft Corporation (NASDAQ:MSFT) combined.
Apple’s newest iPhone is posting record sales for the company, as many of its predecessors have done, since its inception in 2007. The iPhone 5 topped the sales of preordered units by the iPhone 4S. In fact, iPhone 5 doubled the number of units sold in the first 24 hours of preorder availability, by selling 2 million units.That means that during its first 24 hours of preorder sales, Apple sold 83,333 iPhone 5 units per hour, or 1,388 units per minute. This is incredible to comprehend that the public could desire a product so much.
Apple is rumored to be launching the iPad mini in the next couple of months, and if this happens, they could have a shot at stealing some of the mid to low end of the tablet market share, from the likes of Google and Amazon.com, Inc. (NASDAQ:AMZN). Apple has not forayed into the lower end of the market very much. Most of their devices cater to people who have no issue paying top dollar for their products, and in return, Apple has provided strong products through their brand name.
If Apple Inc. (NASDAQ:AAPL) ventures into the lower side of the tablet market, Google Inc (NASDAQ:GOOG) Microsoft Corporation (NASDAQ:MSFT) will almost certainly take a hit, and nothing would make the co-founder of Apple, the late Steve Jobs, happier than to see Google Inc (NASDAQ:GOOG) take a hit. Jobs had a profound and well know hatred for Google, and it was no secret he wanted them to crash and burn as a company.
While Google hasn’t crashed and burned as a company, they have not been enjoying the same limelight and success as Apple. Google has not increased nearly as much as Apple Inc. (NASDAQ:AAPL) in brand worth, or net worth as a company. While their stock trades a little higher per share than Apple, the company’s overall value is much less.
Apple’s stock attained another milestone yesterday, by closing above $700 for the first time. The stock touched $700 just moments after the market closed on Monday, and investors and reporters alike breathed a sigh of relief as we watched the numbers settle. However, Tuesday trading saw the stock remain almost flat, and only gaining a fraction of a percent. However, this gain was enough to boost the stock to an all time high of $702.33 with less than an hour before the closing bell. The stock settled to close at $701.91, and set history for the company.
At the moment, Apple Inc. (NASDAQ:AAPL) is trading at $701.52, down .04%.