While Russia is busy taking down Apple Inc.(NASDAQ:AAPL) related monuments, after the company’s CEO, Tim Cook, came out of the closet, the market capitalization of their entire Stock Exchange has fallen to its knees as compared to the tech giant. On Bloomberg, Mark Barton explained how Apple Inc.(NASDAQ:AAPL) is killing the Russian equity market in terms of sheer size.
” […] If you owned Apple and you sold it, you could buy the entire stock market of Russia, and still have enough change to buy every single Russian an iPhone 6 Plus […],” reported Barton.
That really eclipses the value of the Russian equity market. As far as the real life example of a sore loser being the most angry one is concerned, this is as best as it gets. Clearly Russia has lost focus of the real elements needed to govern a country, that is the economy.
Barton explained that as of July 22nd, while Apple Inc.(NASDAQ:AAPL)’s market cap increased by $147 billion to $652 billion, Russian Stock Exchange lost $234 billion for the year and its total market cap stood at $652 billion.
” […] The gap between Apple Inc.(NASDAQ:AAPL) and the Russian stock market now is $121 billion in Apple’s favor. That is the price of 143 million contract free 64 GB iPhones […],”said Barton.
Russia has been hit hard in light of the sanctions that has been imposed on the country due to its interference in the neighboring Ukraine. Apple Inc.(NASDAQ:AAPL) is the largest company in the world, but if Russia fails to resolve the political crises, Apple will not be the only company to dwarf the country’s equity market.
Moreover, Barton also observed that although the gap between Apple Inc.(NASDAQ:AAPL) and the world’s 20th largest economy is pretty significant, Russia is not the only country whose equity market capitalization is surpassed by the tech giant. Italy and Singapore, which are the world’s 18th and 17th largest economies also fall in the same category.
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