MARKETS

Apple Bigger Than Top Euro Banks

Fresh off the news that it was the most valuable U.S. company, technology company Apple is now worth as much as the 32 biggest euro-zone banks combined. The sharp decrease in the share prices of some of the largest banks, such as Spain’s Santandar, France’s BNP Paribas, Germany’s Deutsche Bank, and Italy's Unicredit, have contributed to euro-zone banks losing three quarters of their value since May 2007. In contrast, Apple has gained $340 billion in market value on the backs of successful products like iPods, iPhones, and iPads.