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.
Load More
Load More