read below:
Apple as Big as Europe's 32 Top Banks—Combined
Published: Friday, 19 Aug 2011 | 12:00 PM ET
By: Reuters
Technology giant Apple [AAPL 356.03
-10.02 (-2.74%)
] is now worth as much as the 32 biggest euro zone banks.


That's the stark result from a steep fall in the share price of banks including Spain's Santander [STD 8.72
-0.37 (-4.07%)
], France's BNP Paribas [BNP-FR 32.75
-1.46 (-4.27%)
], Germany's Deutsche Bank [DB 38.44
-1.46 (-3.66%)
] and Italy's Unicredit [UNCFF 1.32
-0.08 (-5.71%)
], compared to a steady rise in Apple's valuation, according to Thomson Reuters data.








Earlier on Friday the DJ STOXX euro zone banks index fell 4 percent, valuing its 32 members at $340 billion. That's based on the market capitalization of their free-float shares, which for some French banks in particular is less than 100 percent.
The index has crashed by a third since the start of July, hammered by fears banks will lose billions from their holdings of euro zone government bonds and a failure of policymakers to stop a euro zone debt crisis from spreading.
The euro zone banks have lost three-quarters of their value since peaking in May 2007.
In contrast, Apple's market capitalization has soared to $340 billion on the back of the success of innovative technology products like iPods, iPhones and iPads.
No comments:
Post a Comment