“If you owned Apple Inc. (AAPL), and sold it, you could purchase the entire stock market of Russia, and still have enough change to buy every Russian an iPhone 6 Plus,” Srinivasan Sivabalan reports for Bloomberg.
“The value of Russian equities has slumped $234 billion to $531 billion this year, while Apple gained $147 billion to $652 billion, according to data compiled by Bloomberg,” Sivabalan reports. “The technology company’s innovation and brand value attract investors, while Russia’s political conflicts, sanctions and the threat of economic stagnation next year make them nervous, according to Vadim Bit-Avragim, a portfolio manager who helps oversee about $4 billion at Kapital Asset Management LLC in Moscow.”
“Russia faces a 70 percent chance of recession in the next 12 months, economists surveyed by Bloomberg project. The country is buckling under sanctions punishing its involvement in Ukraine, while a plunging ruble stokes inflation and the sinking oil price erodes export revenue,” Sivabalan reports. “Russia, the 20th largest among the world’s major markets, is not the only one Apple has surpassed. The company, which forecasts a record holiday-sales quarter and has $155 billion in cash, is also bigger than 17th-ranked Singapore and 18th-ranked Italy.”
Read more in the full article here.
Apple is worth more than all euro zone banks combined – November 14, 2014