Apple more valuable than the entire FTSE 100

Kinda insane really…

The valuation of US tech giant Apple has continued to surge, and has now surpassed the entire value of all the members of the UK’s top share index.

Apple’s shares rose 4% on Tuesday, valuing it at $2.3 trillion (£1.7tn), compared to the £1.5tn value of all the companies in the FTSE 100.

It is just two weeks since Apple became the first US firm to be valued at $2tn.

Investors have been snapping up US tech stocks as demand for tech goods has surged amid the coronavirus pandemic.

More people are relying on technology to work and shop from home, and Apple has been one of the major beneficiaries.

The iPhone-maker has seen its share price more than double since March, when panic about the coronavirus pandemic swept the world’s stock markets.

Demand for Apple’s shares was also said to be boosted on Tuesday by company’s decision to divide its shares, swapping four new ones for every old one investors held. The move is expected to make it easier for individuals to invest.

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