Apple’s Worth Equals that of all Euro Zone Banks

Apple’s increasing net worth is something we are all familiar with. But because of other companies not going through an equally progressive phase, Apple’s progress relatively seems much amplified. A perfect example of this is what resulted from the fall of shares prices of many Euro zone banks.

As a result of the fall in the share prices of many prominent Euro zone banks – Spain’s Santander , France’s BNP Paribas , Germany’s Deutsche Bank (DBKGn.DE) and Italy’s Unicredit, and others – Apple is now worth as much as the 32 biggest Euro zone banks!
After the 4% fall in the DJ STOXX euro zone banks index, the zone’s 32 banks were valued at $340 billion. That amount is actually based on the capitalization of the banks’ free float shares.
Comparatively, Apple’s market capitalization has increased to $340 billion, all thanks to its iOS devices.
Since July, the index is down to two-thirds of its original value. The banks stand to lose billions from holding of euro zone government bonds and the inability of leaders to prevent the Euro zone debt crisis spreading.