24/7 Wall St.

After taking a beating much of the past year, Apple Inc. (NASDAQ: AAPL) added $30 billion to its market cap in the first quarter of this year as its performance handily outstripped the Nasdaq. All the improvement came after Apple launched the iPhone SE.

The increase in Apple’s market cap was modest, up nearly 5%, compared to a Nasdaq performance just short of 2%. However, with a current market cap of $610 billion, the quarter’s improvement translates to $30 billion.

The argument for the new product put forward by Apple is as follows:

Welcome to iPhone SE, the most powerful 4‑inch phone ever. To create it, we started with a beloved design, then reinvented it from the inside out. The A9 is the same advanced chip used in iPhone 6s. The 12‑megapixel camera captures incredible photos and 4K videos. And Live Photos bring your images to life. The result is an iPhone that looks small. But lives large.

24/7 Wall St.
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