Apple’s Market Cap is Now Larger Than The Entire Australian Stock Market

Apple(APPL), the world’s already most valuable company is getting even more valuable. Last week Apple’s stock jumped to closed at another record. As of yesterday the market cap was $2.4 Trillion. With Friday’s closing at $145.11 the stock us up over 12% year-to-date. Over the past five years the stock has soared by over 487%.

Currently the P/E exceeds 32 and the dividend yield is 0.61%. The outstanding shares have been increasing as well over the past few years. Apple has over 16 billion shares outstanding.

From an Australian perspective, Apple’s market cap based on Friday’s close is $3.24 Trillion Australian Dollars. The market cap of the entire Australian Stock Market as represented by all the companies listed on the ASX is $2.75 Trillion AUD. So Apple’s market cap is larger than the ASX by 18%. This is indeed astonishing !. One single US company is now worth more than all the companies on the Australian Securities Exchange.

The million dollar question is why is there no Australian company that can compete against Apple. Despite being a developed country, countries like Australia are unable to create companies that are innovative and be able to compete at the global level. So from a technological industry perspective, Australia is more like any other developing country. It is not just Australia that lag miserably in technical innovation. Canada, the UK and entire Europe is filled with also-run companies in the tech industry.

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