Apple's Global HQ, Apple Park, is Worth 28 Times the Cost of Chandrayaan-2
The valuation puts in perspective the immense might of Apple, a company that in recent times has been said to be "struggling" by investors.
The massive Apple Park campus glows in the evening, shaped like a glorified iPhone home button.
When Apple took the wraps off the design concept for its new office campus, Apple Park, the whole world heaved a sigh of wonderment. Even those who aren't quite fond of Apple, couldn't help but agree that this would really be a stellar design. Now, after the Santa Clara County authorities carried out their valuation of Apple's global headquarters, there has been a second sigh of wonderment. Apple Park, the massive, circular "building" that resembles Kryptonian spaceships more than American offices, has been pegged at a valuation of $4.18 billion (Rs 28,704 crore). Let that sink in for a moment.
While this is in no way a mean feat, it goes on to show just how mighty Apple is, even in times when its business is deemed to be "struggling" — er, at least a bit. iPhones are no longer selling the way they used to, the MacBooks and Mac desktops often seem prohibitively expensive, and above all, the aura of untouchable excellence and perfection has weaned off a bit, especially after multiple bug-hit iOS updates and a rather coarse, ongoing ride through antitrust cases. But, it is at trying times like these that the true might of certain companies and organisations come to show. There really was never a doubt of Apple as a technology giant, but to just have your office building valuated at more than what four unicorn startups are worth speaks billions, literally.
Just for reference, Apple Park's valuation of nearly $4.2 billion is higher than the GDP of nations such as Egypt ($3.43 billion), Hungary ($2.03 billion) and Peru ($3.08 billion). The allocated cost of India's latest moon mission, Chandrayaan-2, is just short of $150 million — roughly 3.6 percent of the worth of Apple's headquarters. Consider even the iconic, seven-star Emirates Palace, which is resplendent with over 1,000 Swarovski crystal chandeliers — even with all that, Construction Global pegs the valuation of the Palace at $3.9 billion, a solid $280 million short of Apple Park.
A 9to5Mac report quotes David Ginsborg, deputy assessor of Santa Clara County, giving the ground realities. Enquired about the stunning valuation, he said, "Every bit of it is custom. The intricately designed ring – which incorporates treated glass, and specially designed tiles – is surrounded by pines from the Mojave Desert. But at the end of the day, it’s an office building." Perhaps that is what puts into perspective Apple's stunning worth — after all, it was the first company globally to have touched the trillion-dollar valuation mark. It is a mark of how important Apple is, and not just in terms of technology — it is a company that is rich enough to support economies, delve into future-oriented ventures and sustain lean financial years, despite weak predictions.
Perhaps the issue is the benchmark that Apple set for itself — right from the onset, people expected Apple to "think different", something that slowly seeped into the company's philosophy, and later, even its catchline. With the competition from other companies catching up, the last few years have ended up attracting criticism and a slowdown in the pace of growth. It is only at times like these that one is reminded of the sheer might that the likes of Apple, and its fellows Amazon, Facebook and Google possess, and how at present, technology is what runs the world, and is no longer a place for bespectacled geeks typing away in front of screens in the middle of the night.
In hindsight, it should not be a surprise that Apple's headquarters is valued so highly. Mercurial founder Steve Jobs had always focused on perfection in design as key, and as we've now come to know, perfection often pays... very, very well.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.
Recommended For You
- Kapil Sharma's Wife Ginni Chatrath Flaunts Baby Bump on Movie Outing
- PV Sindhu Overcomes Tai Tzu Ying to Reach World Badminton Championships Semi-finals
- RCB Rope in Hesson & Katich for IPL 2020, Sack Kirsten and Nehra
- First Details of The OnePlus TV Confirmed: It Will Have a 55-Inch QLED Panel
- Jio Effect: Tata Sky Broadband Offers 6 Months Additional Usage on Annual Plans