Tim CookSource: Apple

What you need to know

  • Apple is now worth more than the entire FTSE 100.
  • A strong response to its stock split has edged its value past the UK's 100 largest companies combined.
  • Apple now has a market cap of $2.21T.

Apple's market capitalization value has passed that of the entire FTSE 100 in the wake of its four-to-one stock split.

As reported by The Guardian:

Apple has notched up another milestone by overtaking the combined market value of the entire FTSE 100 index of the UK's biggest publicly listed companies.

The report notes that Apple's continued strong share performance did not falter following a four-to-one stock split Monday. Apple announced the move in July stating:

The Board of Directors has also approved a four-for-one stock split to make the stock more accessible to a broader base of investors. Each Apple shareholder of record at the close of business on August 24, 2020, will receive three additional shares for every share held on the record date, and trading will begin on a split-adjusted basis on August 31, 2020.

The split is designed to make the stock more attractive to "a broader base of investors", and it seems to be working, the stock climbing from $127 to as high as $130 in Monday's trading.

As this report notes, that was enough to push Apple's value past the combined valuation of the UK's 100 largest publicly listed companies. Thanks in part to the COVID-19 pandemic, the FTSE 100 has lost around a fifth of its combined value this year. The most valuable company on the FTSE 100, Unilever, is worth a meager $115bn, one-twentieth of Apple's valuation. The FTSE 100 is valued at just over $2T.