Sanctions have taken serious bite out Russia’s stock market. Meanwhile, people seem to continue to like Apple products. That combination has made for an unwelcome milestone for the Russian business world: Apple, as a company, is now more valuable than all of the companies listed on the Russian stock exchange combined.
That news comes via Bloomberg, which crunched the numbers and found that Apple, the world’s most valuable company, has, for the first time, surpassed the value of the entirety of the Russian stock exchange by some $121 billion. The total value of Russian equities, which now stands at $531 billion, has dipped by about a third this year, losing $234 billion in value. Meanwhile, Apple has posted gains of $147 billion and is now worth a whopping $652 billion, according to Bloomberg.