Thursday, May 31, 2012
Apple vs. the US Banking System
If you had $525B, which would you rather own: AAPL or the nation's 6 largest financial institutions? If you sum the market cap of WFC, JPM, C, BAC, GS and MS the number comes out to about the same level as AAPL by itself. If you owned those 6 banks, you would control $4 Trillion in deposits or about half of all US bank deposits. You would also control about $10 Trillion in assets--equal to 2/3 of US GDP.
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