Report: Comcast Is Pennsylvania’s Most Valuable Company
A new report from Broadview Networks claims Philadelphia-based Comcast Corporation is Pennsylvania’s most valuable company.
Using data from November, the report analyzed each state to find the companies with the highest market capitalization value – or the total dollar value of a company’s available shares. A company’s market cap, which is found by multiplying its number of outstanding shares by its stock price, provides an easy way for companies to determine a business’s public perception and comparative value.
As the Inquirer pointed out – Pennsylvania, a rustbelt state, has an economy that was long driven by coal, steel and railroad companies. But the times are a-changin, and according to the study, Comcast’s market cap of about $147 billion makes it the new top dog.
Thirteen states had companies with market caps above Comcast’s – including New Jersey, home of Johnson & Johnson, which has a market cap of $314.71 billion, according to the report.
Apple, based out of Cupertino, California, was the company with the highest market cap – $591.8 billion. Washington took second with Microsoft’s market cap at $460.38 billion.
More information is available on Broadview’s website.
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