Apple shares hit all-time high above $118 as market cap flirts with $700B
Shares of Apple stock reached a new all-time high on Monday, rising to $118.63 at the closing bell with a record market capitalization of nearly $700 billion.
Apple opened the day at $116.85, slightly above last Friday's close of $116.47, and ended at $118.64. The record-breaking performance represents a 1.85 percent jump from previous close, no mean feat for a stock that recently completed a seven-to-one split. Calculated as pre-split pricing, AAPL shares would have ended the day at more than $830.
As for market cap, Apple soared to a record $695.72 billion, just shy of the $700 billion barrier and well over a previous watershed of $659 billion, surpassed earlier this month. Last week, a number of top hedge funds agreed that Apple will be the first company in history to reach a market cap of $1 trillion in 2015, largely thanks to booming iOS device sales.
Over the weekend, analyst Ming-Chi Kuo revealed his iPhone sales forecast covering the upcoming two calendar quarters, predicting Apple to sell 71.5 million units in the fourth quarter of 2014. Driving sales is the 4.7-inch iPhone 6, which accounts for nearly 60 percent of all iPhone sales, according to Kuo's model.
Things are expected to slow down for iPhone in the first quarter of 2015, with only 50 million units shipped for a quarter-over-quarter contraction of 30.9 percent. Helping bolster sell-through early next year is growth on low-end models like the iPhone 5C and iPhone 4S, the latter supposedly being marketed to emerging markets.
Apple opened the day at $116.85, slightly above last Friday's close of $116.47, and ended at $118.64. The record-breaking performance represents a 1.85 percent jump from previous close, no mean feat for a stock that recently completed a seven-to-one split. Calculated as pre-split pricing, AAPL shares would have ended the day at more than $830.
As for market cap, Apple soared to a record $695.72 billion, just shy of the $700 billion barrier and well over a previous watershed of $659 billion, surpassed earlier this month. Last week, a number of top hedge funds agreed that Apple will be the first company in history to reach a market cap of $1 trillion in 2015, largely thanks to booming iOS device sales.
Over the weekend, analyst Ming-Chi Kuo revealed his iPhone sales forecast covering the upcoming two calendar quarters, predicting Apple to sell 71.5 million units in the fourth quarter of 2014. Driving sales is the 4.7-inch iPhone 6, which accounts for nearly 60 percent of all iPhone sales, according to Kuo's model.
Things are expected to slow down for iPhone in the first quarter of 2015, with only 50 million units shipped for a quarter-over-quarter contraction of 30.9 percent. Helping bolster sell-through early next year is growth on low-end models like the iPhone 5C and iPhone 4S, the latter supposedly being marketed to emerging markets.
Comments
It has to be a sad, sad time for a technology producer, when they only sell "50 million" items of their latest product in the first quarter after Christmas when everyone is "spent-out" and worrying about their credit card limits.
Yes: sarcasm.
How many big corporations wish they could have that type of sales problem?
Well, that jinxes any chance of reaching $1T.
Also I'd be careful when analysts start saying big numbers like that, remember 2012? Everyone kept saying aapl will be worth 1000 a share and it went from 700 to 380.
market capacity very funny
Where are all the retractions and apologies from bloggers and analysts who have been trashing Apple relentlessly for the last year +?
Here are just a few memorable gems from the experts from NOT that long ago:
"Anyone can do financial engineering," said Trip Chowdhry, analyst at Global Equities Research.
"I think it’s going down — and AAPL stock may continue to struggle for some time," wrote Jeff Reeves, BusinessInsider.
"Everything is a disappointment with Apple - they just can't their act together and the competition is running away from them," said Bert Dohmen, president of Dohmen Capital Research.
Enjoy your Thanksgiving HUMBLE PIE, AAPL haters.
Shares of Apple stock reached a new all-time high on Monday, rising to $118.63 at the closing bell with a record market capacity capitalization of nearly $700 billion.
There, fixed that for ya!
I hope for AAPL's sake, and the sake of all their investors, there is no such thing as market capacity when referring to stock market valuation.
Edit: Dang, pipped by Delreyjones. My comment still stands.
Hey 512. They are paid to wank (There is no content value in their reports). ;-)
I predict that Apple will not buy much more, certainly not at this price. It would not make much economic sense. I am guessing that they'll however return a big lump sum to investors via a special dividend.
Of course, that prediction is worth the paper it's written on....
Apple is trying to get up to the cloud to fix it, but their Tower of Money isn't high enough yet.
Where are all the retractions and apologies from bloggers and analysts who have been trashing Apple relentlessly for the last year +?
Here are just a few memorable gems from the experts from NOT that long ago:
"Anyone can do financial engineering," said Trip Chowdhry, analyst at Global Equities Research.
"I think it’s going down — and AAPL stock may continue to struggle for some time," wrote Jeff Reeves, BusinessInsider.
"Everything is a disappointment with Apple - they just can't their act together and the competition is running away from them," said Bert Dohmen, president of Dohmen Capital Research.
Enjoy your Thanksgiving HUMBLE PIE, AAPL haters.
Those people will never admit they were wrong or stupid or ignorant or clueless. They're probably still waiting around for Apple to fail at some point in the future, so they can say they were right all along. Meanwhile any potential investors who took their advice have to lose out on a good thing. I'd like to know what some of those geniuses said about Google, or Amazon or Priceline. Those were considered stocks that absolutely could not disappoint but disappoint they did. Investors continue to pile back in Amazon hoping for massive returns. Wall Street is sure Google is going to eventually take Apple down with Google Glass and Project Loon or the discovery of a missing genome to change the world as we know it. Good luck with that dream.
It has to be a sad, sad time for a technology producer, when they only sell "50 million" items of their latest product in the first quarter after Christmas when everyone is "spent-out" and worrying about their credit card limits.
Yes: sarcasm.
How many big corporations wish they could have that type of sales problem?
50 million iPhones units down from 70 million in a quarter indicates a downtrend towards zero in a year. The trend must only go upward. That's why it's best to invest in a startup company. Anything higher than zero sales indicates huge growth and that's what Wall Street loves. It doesn't even matter if the company is burning through cash to do it. Continued high growth and major market share are everything to Wall Street. With Apple the only direction the company is likely to move is downward. So, sell Apple now.
/s
It's really funny how many of the companies Wall Street loves, Apple could easily buy them with some of its spare cash. Of course, if Apple bought those companies, then suddenly they'd be worth nothing to Wall Street. Go figure. Not really. Wall Street is being run by crooks who are turning lead into gold for their own personal gains. When CEO Elon Musk of Tesla came out and said that even he thinks his company is being overvalued and yet investors continued to pour money into the company, there has to be something strange going on. He's giving investors a head up that he won't be able to produce that kind of revenue for quite some time. How direct can you get and yet no one paid him any mind.
Musk is one of the smartest men on the planet, I have a lot of respect for him.
Thanks, I enjoyed your post.
[I][SIZE=5][B][COLOR=#09c]This Figure, Though, Would Still Be[I][SIZE=5][B][COLOR=#f09] up 13% from Apple's Year-ago Sales.[/COLOR][/B][/SIZE][/I]