Apple’s iPhone business is worth more than all but 10 companies in the world according to a report by Trefis. According to the analysts, Apple is worth $391 billion, which is 40% more than the current value of the company’s stock. The iPhone business is worth more than half that value, which means if it were spun out on its own it would be worth more $209 billion, which is more than every company on earth with the exceptions of Microsoft, AT&T, Exxon and a few others.
Interestingly, Apple’s apps sales only account for 2.4% of the company’s stock price value, which is a hair below that of iTunes’ music and video sales and rentals.
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