Skip to comments.Apple sets record for company value at $623B
Posted on 08/20/2012 1:24:42 PM PDT by Hojczyk
Apple is Wall Street's all-time MVP that's Most Valuable Property.
On Monday, Apple's surging stock propelled the company's value to $623 billion, the world's highest, ever. It beat the record for market capitalization set by Microsoft Corp. in the heady days of the Internet boom.
After a four-month dip, Apple's stock has hit new highs recently because of optimism around what is believed to be the impending launch of the iPhone 5, and possibly a smaller, cheaper iPad.
Apple Inc. has been the world's most valuable company since the end of last year. It's now worth 53 percent more than No. 2 Exxon Mobil Corp.
Apple's stock hit $664.74 in midday trading before retreating slightly to $662.38. That was $14.27, or 2.2 percent, higher than Friday's close.
Microsoft's 1999 peak was $620.58 billion, according to Standard & Poor's.
The comparison to Microsoft does not take inflation into account. In inflation-adjusted dollars, the software giant was worth about $850 billion on Dec. 30, 1999. Microsoft is now worth $257 billion.
Analysts believe Apple's stock has room to grow. The average price target of 38 analysts polled by FactSet is $745.80.
Despite the surge, Apple's stock is not particularly expensive compared to its earnings for the last twelve months. The company's "price-to-earnings ratio" is 15.6, compared to 16.1 for the S&P 500 overall. That suggests investors, unlike analysts, don't believe the company can grow its profits much from current levels.
By contrast, Microsoft had a price-to-earnings ratio of 83 at the 1999 peak. The stock was caught up in the Internet mania of the time and investors believed it could boost its future earnings massively.
Analysts believe the launch of a new iPhone in a month or two will be Apple's biggest product introduction yet.
(Excerpt) Read more at news.yahoo.com ...
Apple built that!
no this isn’t - can’t be - true!
I have it on good authority that Apple makes inferior products to windows. Has a tiny market share. Makes all the wrong decisions on its products. Blah, blah, blah...
I own 1,500 shares.
I have one that I got as a gift a few years ago. I wished I had some spare money to buy more. My only complaint with Apple last time I checked is that they have no DRIP program.
No doubt some whiz kid at Apple has their own reason (good or not) not to have it.
I have some steady money coming in this month from a side venture that lasts however long and I am doing some small scale investing to rebuild what I have lost a couple years ago.
If you want on or off the Mac Ping List, Freepmail me.
My friendly local office tightwad finally broke down & bought a (used) 13” Macbook Pro.
I’ll enjoy watching him become an addict. < |:)~
Apple is run by a gay guy so they’re on the FR sh!tlist.
And Ballmer and Gates contributed to the Wash State gay marriage initiative.
It’s Linux as the only acceptable system, LOL.
“Apple is run by a gay guy so theyre on the FR sh!tlist.
“And Ballmer and Gates contributed to the Wash State gay marriage initiative.
“Its Linux as the only acceptable system, LOL.
I’m in the don’t ask, don’t tell camp. I consider it perverse. I don’t want to know. I don’t want to be forced to treat it as normal.
But in the end, whichever you choose, it’s just a computer...
Whatshisname is turning over in his grave!
Not bad, but unfortunately the govt. owns about half of your 1500 shares if you were to cash them in.
How can that be when the capital gains tax rate is 15%?
Taxes are above my pay grade obviously..
You do know that FreeRepublic.com runs on Linux, right?
(At least, it did the last time I checked.)
Time for the government to break them up. Can’t let them get too big. Oh wait, that already started with the suit over iBook publishing prices.
Didn’t know that, but it seems appropriate, LOL
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.