Apple Inc.’s long-term credit rating was upgraded to Aaa by Moody’s Investors Service, putting the iPhone maker in an exclusive club with Microsoft Corp. and Johnson & Johnson as the only U.S. corporations in the S&P 500 with the highest possible credit score.
“The upgrade of Apple’s rating to Aaa reflects the company’s exceptional liquidity, robust earnings that we expect will continue to grow over the next 2 to 3 years, and its very strong business profile,” Moody’s analyst Raj Joshi said in a statement Tuesday.
The move elevates a company that’s already the world’s biggest by market value, fueled by the success of the iPhone and a push into lucrative new markets. Apple’s market capitalization flirted with $3 trillion this year, with investors betting that an expansion into augmented reality and possibly cars could help keep sales growing.
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