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Jeff Wexler

Apple Inc.'s financials

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I love to see both these stories in the financial news today. I know the general consensus amongst most people is that market cap and profitability are intrinsically good --- what a company decides to do with their wealth is what is really important.

 

Apple Inc. has become the first U.S. company to close with a market cap of more than $700 billion, nearly doubling the market cap of its closest rival, Exxon Mobil. Apple’s share price closed nearly 2 points up at $122.02 with a market cap of $710.72 billion on the NASDAQ exchange.

 

At more than $700 billion, Apple is twice as valuable as Microsoft ($349.6 billion); Exxon closed with a market cap of $384.32 billion.

 

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Apple Inc. is looking to get greener. Now the tech giant is planning to build a 1,300-acre, $850 million solar farm in Monterey County, California, in a bid to power its new spaceship-like campus in Cupertino on green energy.

 

"We know at Apple that climate change is real," CEO Tim Cook said at an investor conference Tuesday. "The time for action is now."

 

The facility, big enough to power 60,000 homes, is expected to generate enough electricity to power every Apple office in California, as well as 52 retail stories and the company's data center across San Francisco Bay in the town of Newark.

 

The Monterey County solar farm will be Apple's fourth; it already has two in North Carolina and one in Nevada. Cook said all of Apple's data centers run on renewable energy, including a planned $2 billion data center to be built in Arizona.

 

"It's right to do but financially good to do as well," Cook said at the Goldman Sachs technology conference in San Francisco. "We're expecting to have significant savings with renewable energy vs. brown energy."

 

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I read a while ago that Apple is likely to be the first Trillion Dollar company

I've been betting on that for a long time. No corporation is perfect or without sin. Apple does things it own way and has done it better than most.(understatement of the day). Silicon Valley is investing in green and emerging energy which to me is a good long term bet. As for Apple,buy on the dips and splits is my advice which I'm offering for free....;~)

CrewC.

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This was great news. I think every successful company should be responsible and cover their CO2 footprint. I'm really excited that apple will be doing this. I have always respected their vision.

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