Apple is now worth more than Europe’s banks combined

Michelle Davis for Blooomberg:European banks are now collectively worth less than Apple Inc. The 36 lenders in the Bloomberg Europe 500 Banks Index — with $28 trillion in assets and employing more than 2 million people — have slipped below the market value of tech giants like Apple.
Andreas Treichl, chairman of Austrian lender Erste Group Bank AG, said Friday that the sobering milestone “tells a story” about the lagging fortunes of his industry.
“Europe will be at a