Apple Inc’s market capitalisation of $3 trillion, a mark it achieved on Monday, is higher than the GDP of all but four countries —the US, China, Japan and Germany. To put the figure in perspective, India’s estimated GDP of Rs 197 lakh crore in 2020-21translates to under $2. 7 trillion at the current exchange rate.
The landmark represents a trebling of the tech giant’s valuation in a little over three years, having crossed the trillion-dollar mark in August 2018. It breached the $2 trillion level two years later in August 2020.
Valuations and GDP are of course not really comparable, but looking at the two does serve the purpose of underlining just how important large global corporations have become. Amazon, Google’s parent company Alphabet, Microsoft, and Tesla too have market caps exceeding $1trillion