That is quite some going for the old fruit farmers.
Apple of course is hugely successful company, able to sell its over-priced wares all over the world to willing consumers such as myself.
But bigger than the FTSE100, Apple bigger than say HSBC, BP, Tesco and Unilever put together?
Of course there are reasons here, the US markets are on a roll but the nexus of investment in just a few stocks is a new phenomenon. In past decades the US system would have moved to break-up monopolists like Google or Microsoft, certainly Facebook and Amazon would not survive a real Anti-Trust investigation.
However with an Election year, Republican President and worries about US pre-eminence no such action is forthcoming.
So instead 70% of US Equity value sits in literally a handful of companies. All I know is that this is unsustainable and not a reflection of value in the real world....but the markets can remain wrong for a long time before reality bites.
Perhaps it really is different this time?