Which matters more, next week’s rumoured iPhone 5 launch or the European Central Bank rescue plan expected this Thursday? Speculation about an iPad Mini or the worsening economic slowdown in China?
Only a wild-eyed camper queueing all night outside an Apple store could argue that the tech company’s plans mattered more to the economy. But in purely financial terms, the market value of Apple makes the question less silly.
Apple became the world’s most valuable-ever company two weeks ago. It is worth $624bn, more than all the listed companies in Portugal, Ireland, Greece and Spain together. The employer of 63,300 people – each valued at $10m – is more valuable than all the shares available to investors in the MSCI China index, the international benchmark.