Steve Sorensen Net worth Fortune 500 Updates

22 Sep

Steve Sorensen Net worth Fortune 500 Updates

Want to stay updated on the latest news about the top Fortune 500 companies? You’ve come to the right place! I’m Steve Sorensen, a net worth blogger who covers large companies in the Fortune 500 rankings. My passion? To uncover these large companies’ business secrets and to learn about their journey climbing the Fortune 500 ranks.

The Apple Valuation

We love Apple. Even Apple haters have a soft spot in there somewhere. But just how much is Apple worth now? Previously, the tech giant has been hovering just a notch below the $ 700 billion mark, but last year’s earnings have finally pushed it beyond the 700 billion mark. However, there is one industry expert who thinks that Apple is actually worth at least a trillion dollars now.

You read that right, a trillion dollars! Let’s take a look at some of his arguments:

Image Soure:

#1. Apple has a multiple of 15x compared to the S&P 500’s 17x. This simply means Apple is not overbought, and definitely not overvalued. The multiple is one way to measure a company’s value relative to its earnings. Generally, companies can have a multiple of 20x before investors put on the brakes and begin to reassess their projections. At a 20x multiple, though, this means Apple shares will be worth a staggering $215 at the minimum, giving it a total market capitalization of $1.3 trillion.

That’s a lot of zeroes, but you do the math—Apple reportedly sold 75 million iPhones last quarter. That’s one feat CEO Tim Cook can be proud of.

#2. Apple is peerless, with virtually no industry competition. If we look at other big tech names, say, Google, Microsoft, or Facebook, these companies are innovation leaders in their own right, but they have no competing core businesses with each other. In fact, if you look closely, their products and services are actually interconnected with one another, which means that one company’s sales can be related to the other company’s profit.

For Apple, what still sets them apart is their brand. They don’t play by any other company’s rules. For a lot of today’s standards, they made the rules.

Image Source: fortunedotcom

In Other News

In other news, another Fortune 500 Company reached a new milestone in terms of market capitalization. Earlier this month, e-commerce giant Amazon climbed past Exxon Mobil to become the 4th largest company in the country, breaching the $362 billion mark. During the day’s session, Exxon Mobil lost 2% giving Amazon a leg up. Exxon Mobil had a market cap of $361.6 billion.

Amazon is reportedly busy in preparations to release a new music service, one that will rival Spotify, Pandora, and Jay-Z’s Tidal. Of the three streaming services, Pandora is the closest competition in terms of subscription fees. Rumor has it that Amazon’s subscription fee will only cost about half of the average, which is around $10. Pandora’s streaming free is at $5, and Amazon is looking to grab some of its market share with a streaming service called Echo.

For more news and updates about the top Fortune 500 Companies, stay tuned here. Steve Sorensen, the net worth blogger, will be bringing you more interesting business news on this page.


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