Apple's market value passes $600bn | Mobile Devices | Mobile Entertainment

Apple's market value passes $600bn

Apple's market value passes $600bn
Tim Green

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Devices / iPhone / April 11th 2012 at 10:46AM

First to do so since Microsoft in 1999.

Although Instagram has proved that you don't need anything as vulgar as revenue to make a ton of money, Apple has achieved its valuation the old way: by selling stuff.

Indeed, Apple has sold more than 315m iOS devices to date, and 172m of them in 2011 alone. The awesome popularity of its products has means it has more money than it knows what to do with – $98 billion to be exact.

And the death of Steve Jobs doesn't seem to have had the negative effect some feared. The success of iPhone 4S, iPad3 and the expected moves into TV and mobile payments are prompting some market watchers to predict a 50 per cent rise in quarterly profits to $9.2bn when it announces its results later this month.

It now cost around $620 to buy one share in the company.