Apple’s market capitalisation is at record highs, continuing to grow as investors believe the company has more to offer. The Australian dollar continues to decline against most major currencies.
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00:00Apple gave us the iPhone and the iPod, and it's about to hit a new iMark, the first company
00:08to be valued at $4 trillion US dollars.
00:12The amount of shares out there is multiplied by the current price, now above $250 US dollars,
00:19to get Apple's market capitalisation, which is what investors think the whole company
00:24is worth.
00:26As the tech giants have tightened their grip on how our economy does its work, their value
00:31has soared.
00:32But they haven't necessarily shared the wealth.
00:36In the past, accused of using complex arrangements to minimise taxable income, by shifting profit
00:42to related companies overseas.
00:46At a global level, treaties and transparency are changing things.
00:51Apple has previously said it pays all applicable taxes in each country where it operates, and
00:56I'm not suggesting they don't.
00:58To be very clear, this type of tax minimisation is perfectly legal.
01:04But it doesn't seem right, does it?
01:07For comparison, our biggest company, the Commonwealth Bank, which largely operates just serving
01:12local customers, is worth $261 billion, and that's in our currency.
01:19The Aussie dollar keeps shedding value, meaning big shifts for importers and exporters.
01:25For most of us, only an issue if you're lucky enough to be heading on an overseas holiday.
01:30And given the direction, you probably should have gone a few weeks ago.
01:35Global markets were sleepy after the Christmas break, except for Japan, which leapt because
01:39investors think its central bank will start cutting interest rates.
01:44On commodity markets, crude oil had a big jump, but it takes a few weeks for global
01:48price changes to hit here at the bowser and get pumped out of your wallet.
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