FRESH FROM BEING valued at over $700 billion for the first time, Apple CEO Tim Cook has announced plans for building a gigantic 1,300 acre solar energy farm south of San Francisco.
Cook was speaking to investors on stage at the annual Goldman Sachs Technology and Internet Conference in California city.
The farm will cost $850 million to build and will provide enough juice to fire 60,000 homes.
Despite the enormous cost Cook insists that the farm will be more than enough to power Apple’s new headquarters in Cupertino and will save the tech giant money in the long run.
“We’re thrilled to continue on a course of doing things that make the world better than we found it,” Cook told investors.
We know at Apple that climate change is real… the time for change is now.
Earlier, Apple had passed the magic figure of $700 billion market capitalisation for the first time.
Shares in the company finished up 2% at $122.02 leaving its market cap at $711 billion.
To put that in context, Apple shares now dwarf that of former tech kingpin Microsoft by a ratio of greater than 2 to 1.
The company had flirted with the landmark figure in November before its value retreated somewhat.
The insane numbers are fuelled by Apple’s enormous success with the iPhone 6. The company sold over 70 million of the handsets in the last quarter of 2014 alone.
Meanwhile, in China the company has finally made a concrete breakthrough with sales of over $38 billion last year.
The Chinese market had been a marquee one which Apple had heretofore struggled to break into.
Shares in the company have now been boosted by more than 60% in the last year alone.
Nice money if you can get it.
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