Thread: First U.S. company worth $700 BILLION ?

Apple: First U.S. company worth $700 billion

By Patrick Gillespie @CNNMoneyInvest
Stunning Apple Stats
Everything is sunny at Apple (AAPL, Tech30).

The company added to its trophy case Tuesday when its value surpassed $700 billion. That wasn't just a record for Apple, it was a new record for any U.S. company.

(Apple briefly touched this valuation in November, but Tuesday marked the first time it closed at that level, a far more significant achievement.)

Apple is in a league of its own. The next largest company, Exxon Mobil, (XOM) is worth $382 billion.

Related: Apple CEO who fired Steve Jobs: 'I wish I had hired him back'

The stock rallied after Apple announced a partnership with First Solar (FSLR) on a nearly 3,000-acre solar energy farm that will funnel electricity to the tech giant's offices in California. That comes on the heels of Apple's best quarterly earnings ever in January and the ongoing expansion of Apple Pay.

Beyond that bright news, the company had a very successful bond sale last week, another indicator of just how excited investors remain about the company.

Related: JetBlue to be the first airline to accept Apple Pay payment in flight

The stock closed at an all-time high of $122 a share Tuesday, and it's up 64% over the past year. Billionaire hedge fund manager Carl Icahn has predicted the stock could go to $200.

When Steve Jobs passed, there were concerns whether Tim Cook could lead the company. Those concerns seem quelled now.

CNNMoney ranked Cook as CEO of the Year in 2014.

CNNMoney (New York) February 10, 2015: 6:00 PM ET

http://money.cnn.com/2015/02/10/inve...h-700-billion/

Apple building big solar project in Monterey County

Chronicle News Services
Published 4:30 pm, Tuesday, February 10, 2015

Apple will spend nearly $850 million on a solar energy project that will generate enough power for the computer giant’s new corporate headquarters, retail stores and other operations in California.

The tech company will be the biggest single consumer of energy from the new solar facility. It is being constructed on 2,900 acres in rural Monterey County.

Apple CEO Tim Cook, who announced the project during a presentation Tuesday at the Goldman Sachs Technology and Internet Conference in San Francisco, said Apple is concerned about climate change. He added that the company’s computer centers already are powered by various forms of renewable energy.

First Solar Inc. of Arizona is building the facility, which will have a capacity of 280 megawatts. Apple has signed a 25-year contract for electricity from 130 megawatts of the plant’s capacity. Cook said that will be enough to power the new headquarters Apple is building in Cupertino, along with “every other office we have in California,” a data center in Newark, and Apple’s 52 California retail stores.

Additional output of about 150 megawatts from the solar farm will be sold to Pacific Gas & Electric Co.

Construction on the California Flats Solar Project will begin in the middle of this year and be completed by the end of 2016, the companies said.

Also Tuesday, Apple became the first U.S. company to close trading with a market value above $700 billion. Record sales and profit in recent quarters have boosted shares.

The stock rose 1.9 percent to $122.02, valuing Apple at more than $710 billion.

http://www.sfgate.com/business/artic...ey-6073806.php