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Apple passes Microsoft, takes second place in S&P 500 rankings [u]

post #1 of 46
Thread Starter 
Apple's float-adjusted market cap hit $242 billion Thursday, making it the second-largest company on the S&P 500 and pushing it ahead of Microsoft, which finished the day with a $239 billion open market cap as calculated by the Standard & Poor's.

According to MarketWatch, Apple surpassed Microsoft with a float-adjusted cap of $241.5 billion. Those numbers do not use the full market basis, but apply only to shares on the open market.

Apple's total was larger than Microsoft's index market value of $239.5 billion on the Standard & Poor's. However, in terms of total actual market cap, Apple remains well below Microsoft, with a difference of more than $30 billion. Previously, a number of outlets, including MarketWatch, had incorrectly reported that Apple's total market cap had surpassed Microsoft.

The milestone came after Apple announced on Tuesday that its profits increased nearly 90 percent year over year, thanks to strong Mac and iPhone sales.

Exxon still remains the top company on the S&P 500., with a market cap of $324 billion. Earlier this year Apple moved past Berkshire Hathaway and Walmart to become the third-largest U.S. company in terms of market cap.

The numbers could change quickly, though, with Microsoft announcing its earnings Thursday afternoon. Apple's stock increased $7.25, or 2.8 percent, in trading on Thursday to propel it past Microsoft. AAPL is also significantly up from its 52-week low of $119.38.

Apple's growth has been largely credited to the company's CEO, Steve Jobs. In December, the Apple co-founder was named the world's best-performing CEO for increasing his company's market cap a whopping $150 billion over a 12-year span.
post #2 of 46
Wow, these are interesting times indeed!
post #3 of 46
I think it's starting to get a little bit too crazy with the stock price....ultimately that means a mini crash in the future.

Apple being "more valuable" than Microsoft in terms of market cap is simply laughable. Look at revenues, profits, and assets, and it's no contest.
post #4 of 46
Congratulations, Apple!

I'm headed to Gourmet Haus Staudt to lift a beer in your honor and my stock portfolio!
post #5 of 46
Yeah, I read that news story, but then I went to my Schwab investment page and looked up both companies, and it showed that AAPL was at 241.6B while MSFT was at 276.0B. What am I missing?
post #6 of 46
Microsoft is still $275B market cap last i checked

http://www.google.com/finance?q=NASDAQ%3AMSFT
post #7 of 46
Quote:
MSFT Market Capt275.30B
AAPL Market Capt241.63B

What am I missing? Is Yahoo just really bad at calculating Market Cap? Is there some other measure of market cap?
post #8 of 46
Apple is doomed
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post #9 of 46
Quote:
Originally Posted by AppleInsider View Post

Apple's market cap hit $242 billion Thursday, making it the second-largest company on the S&P 500 and pushing it ahead of Microsoft, which finished the day with a $239 billion market cap.

I think AI jumped the gun on this... Last I checked, MSFT market cap was at 275 billion. As much as I'd like to see AAPL pass MSFT, it's just not there yet. Give it another month.
post #10 of 46
You aren't missing anything. Neil is an idiot.
post #11 of 46
Quote:
Originally Posted by Booga View Post

What am I missing? Is Yahoo just really bad at calculating Market Cap? Is there some other measure of market cap?

Was just thinking that too... MSFT ended up at the end of the day so even if Market Cap is calculated at the end/start of each day, then I don't know where AI is getting their numbers from...
post #12 of 46
Quote:
Originally Posted by b1ng0 View Post

You aren't missing anything. Neil is an idiot.

Sadly, this seems to be the case.

Oh well, the beer will be tasty nonetheless.

Quote:
Originally Posted by OriginalG View Post

Was just thinking that too... MSFT ended up at the end of the day so even if Market Cap is calculated at the end/start of each day, then I don't know where AI is getting their numbers from...

Even if market cap was calculated from the previous day's close, today's price changes for MSFT and AAPL wouldn't be enough to cover the difference. We're talking $30B, more than 10% of Apple's current market capitalization.

Looks like AI needs to change the batteries on their calculator.
post #13 of 46
Are you guys sure, last time I checked Like 2 seconds ago Microsoft had a $275 billion market cap. I think Apple will catch up to them within a month but I belive it hasn't done it yet.
post #14 of 46
After hour trading has MS at $263B
post #15 of 46
Quote:
Originally Posted by LouisTheXIV View Post

I think it's starting to get a little bit too crazy with the stock price....ultimately that means a mini crash in the future.

Apple being "more valuable" than Microsoft in terms of market cap is simply laughable. Look at revenues, profits, and assets, and it's no contest.

Not as crazy as you might think... Microsoft has a $10B war chest, pays out profits in the form of a dividend, and has an 8% compounded growth rate over the past five years. Still, everything I see shows their market cap closer to $264B (after hours), which is still above Apple at $241B.

Microsoft hasn't really done much for growth, and hasn't been able to innovate into new markets effectively (and profitably).
post #16 of 46
Quote:
Originally Posted by OllieWallieWhiskers View Post

I think AI jumped the gun on this... Last I checked, MSFT market cap was at 275 billion. As much as I'd like to see AAPL pass MSFT, it's just not there yet. Give it another month.

Last time I checked it out, AAPL will probably need to top $301 per share to surpass MSFT. Looking at today and yesterday it will happen soon, but what's wrong with AI? Who knew they were innumerate?
post #17 of 46
Hey, who reported this?

Shaw Wu? Gene Munster? Katy Huberty? Gartner? Enderle?
post #18 of 46
Hahahaha. apple beats microsoft. any day
post #19 of 46
Quote:
Originally Posted by cvaldes1831 View Post

Sadly, this seems to be the case. Looks like AI needs to change the batteries on their calculator.

For MSFT to have a 238b cap the stock would have to hit somewhere around 27.25
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post #20 of 46
Wow! Congrulation , apple!
post #21 of 46
pathetic. Zero quality-control or editing on this website, ever.
post #22 of 46
Quote:
Originally Posted by DaveGee View Post

For MSFT to have a 238b cap the stock would have to hit somewhere around 27.25

Headed that direction in after-hours trading. Don't know if it'll get there though.

post #23 of 46
I have a 12 year bet riding on this!
post #24 of 46
First the rumor of the ARM take-over by Apple was uncritically passed on, by the roughdrafter Daniel (of all people - should have known better). Now this. You folks need to do your homework. MSFT is still more than petty 30 bill. ahead of AAPL. To be sure, I will whisper a yippee at the over-take of MSFT (not the take-over of ARM), just not yet.
post #25 of 46
Two financial sites are reporting this incorrect number. I don't understand how it was calculated, as I can't get that number no matter how I juggle the numbers.

Apple ended the day up $7.25, and MS was up $0.058.

As of this moment (4:47 EST), in after hours trading, Apple down $0.62, and MS is down $1.40.

Apple's market cap is $241.6B, and MS's is $275.3B.

This will change slightly as the evenings trading continues, but not by much.

I still don't know why Apple jumped so much today. Whether it was because of the possibility they might buy ARM, or the likelihood that they may not, or something else altogether, is a real question.
post #26 of 46
I think that AI got their story from MarketWatch:

"SAN FRANCISCO (MarketWatch) -- Apple Inc. (AAPL 265.40, -1.07, -0.40%) became the second-largest company, in terms of market capitalization, on the S&P 500 (SPX 1,209, +2.74, +0.23%) Thursday, trailing only Exxon Mobil (XOM 68.50, -0.06, -0.09%) , according to Standard & Poor's index services unit. The S&P 500 is float-adjusted, so it doesn't use the full market basis for Microsoft. Apple's float-adjusted market cap reached $241.5 billion, surpassing Microsoft Corp.'s (MSFT 29.91, -1.48, -4.72%) index market value of $239.5 billion, said Standard & Poor's. Exxon still remains in the top spot on the S&P 500 with a market cap of more than $300 billion, said S&P. (Updates to correct Apple market capitalization and clarifies Standard & Poor's ranking.)"
post #27 of 46
Although a number of outlets (1, 2) reported Thursday that Apple's market cap exceeded Microsoft, the information was inaccurate. Microsoft's cap is still larger than Apple.

Exxon still remains the top company on the S&P 500, with a market cap of $324 billion. Earlier this year Apple moved past Berkshire Hathaway and Walmart to become the third-largest U.S. company in terms of market cap.

Apple's growth has been largely credited to the company's CEO, Steve Jobs. In December, the Apple co-founder was named the world's best-performing CEO for increasing his company's market cap a whopping $150 billion over a 12-year span.
post #28 of 46
Quote:
Originally Posted by JamesMan View Post

First the rumor of the ARM take-over by Apple was uncritically passed on, by the roughdrafter Daniel (of all people - should have known better). Now this. You folks need to do your homework. MSFT is still more than petty 30 bill. ahead of AAPL. To be sure, I will whisper a yippee at the over-take of MSFT (not the take-over of ARM), just not yet.


Not really, Microsoft is getting hammer in after hours trading so the gap is like $20b or maybe even less than that.
post #29 of 46
I was replying to your original story claiming Apple overtook MS (according to my Bloomberg terminal, they're about $30 billion behind).

However if APPL stock does hit $300, then that could definitely change. Just a little premature guys.

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post #30 of 46
Hopefully people caught this: the S&P 500 index calculates market cap differently than you'd otherwise expect. They only include shares available in the open market, not locked up. So if you exclude shares that aren't available to trade openly, AAPL has surpassed MSFT for market cap. If you count the total outstanding shares, MSFT is still substantially ahead.
post #31 of 46
Quote:
Originally Posted by fraklinc View Post

Not really, Microsoft is getting hammer in after hours trading so the gap is like $20b or maybe even less than that.

Apple is now down $1.12 or -0.42%, so they're both down, though MS is down by a greater percentage at$1.41 and -4.49%.

They're moving more quickly now.
post #32 of 46
Quote:
Originally Posted by hallm409 View Post

Hopefully people caught this: the S&P 500 index calculates market cap differently than you'd otherwise expect. They only include shares available in the open market, not locked up. So if you exclude shares that aren't available to trade openly, AAPL has surpassed MSFT for market cap. If you count the total outstanding shares, MSFT is still substantially ahead.

That's true. I forgot about that, as it's rarely done that way. That's the only major index that calculates valuation in that manner.
post #33 of 46
Quote:
Originally Posted by coffeetime View Post

i think that ai got their story from marketwatch:
SAN FRANCISCO (marketwatch) -- apple inc. (aapl 265.40, -1.07, -0.40%) became the second-largest company, in terms of market capitalization, on the s&p 500 (spx 1,209, +2.74, +0.23%) thursday, trailing only exxon mobil (xom 68.50, -0.06, -0.09%) , according to standard & poor's index services unit. The s&p 500 is float-adjusted, so it doesn't use the full market basis for microsoft. Apple's float-adjusted market cap reached $241.5 billion, surpassing microsoft corp.'s (msft 29.91, -1.48, -4.72%) index market value of $239.5 billion, said standard & poor's. Exxon still remains in the top spot on the s&p 500 with a market cap of more than $300 billion, said s&p. (updates to correct apple market capitalization and clarifies standard & poor's ranking.)

qft +++
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post #34 of 46
Quote:
Originally Posted by melgross View Post

I still don't know why Apple jumped so much today. Whether it was because of the possibility they might buy ARM, or the likelihood that they may not, or something else altogether, is a real question.

A real question indeed...

My first though was the Nokia results but that was pre-marekt news and if AAPL was considered in some way to benefit from the results AAPL would have popped 1st thing.

ARM rumors started yesterday maybe even before... so thats not it...

ARM CEO downplaying rumors ... Thursday 22 April 2010 17.11 BST so that translates to 13:11 EST or 1:11pm.... maybe but given when this news items was published AAPL didn't react until what 30+ minutes later? The market reacts faster than that.

Apple stock started its POP at 13:38 EST or 1:38pm

Lots of interesting volumes traded spikes... I'm very curious myself...
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post #35 of 46
Quote:
Originally Posted by DaveGee View Post

A real question indeed...

My first though was the Nokia results but that was pre-marekt news and if AAPL was considered in some way to benefit from the results AAPL would have popped 1st thing.

ARM rumors started yesterday maybe even before... so thats not it...

ARM CEO downplaying rumors ... Thursday 22 April 2010 17.11 BST so that translates to 13:11 EST or 1:11pm.... maybe but given when this news items was published AAPL didn't react until what 30+ minutes later? The market reacts faster than that.

Apple stock started its POP at 13:38 EST or 1:38pm

Lots of interesting volumes traded spikes... I'm very curious myself...

I hope we'll find out tomorrow.

Remember recently when Apple stock had been going up for several days, and then dropped by several dollars? I couldn't find a single reason for it.

Then the next day it was revealed that a number of highly placed Apple executives had their options mature, and sold. That was enough to drop the stock several points, especially if the market was also responding to the drop.

But then it popped up again.
post #36 of 46
Quote:
However, as The Associated Press noted, the S&P 500 ranks companies by their publicly available shares. Just 87 percent of Microsoft's shares are open for public trading. So in market capitalization, Microsoft is still bigger than Apple.

Seems to have been poorly reported; not market cap, just publicly available shares, excluding insiders?
post #37 of 46
Quote:
Originally Posted by aaarrrgggh View Post

Seems to have been poorly reported; not market cap, just publicly available shares, excluding insiders?

Shares generally held by institutions which don't intend to sell them.
post #38 of 46
Quote:
Originally Posted by melgross View Post

I hope we'll find out tomorrow.

Remember recently when Apple stock had been going up for several days, and then dropped by several dollars? I couldn't find a single reason for it.

Then the next day it was revealed that a number of highly placed Apple executives had their options mature, and sold. That was enough to drop the stock several points, especially if the market was also responding to the drop.

But then it popped up again.

Program trading by the institutions. Many of these moves can't be explained by even the emotional logic of the markets, when so much of the buying and selling is automatic.
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post #39 of 46
Quote:
Originally Posted by Dr Millmoss View Post

Program trading by the institutions. Many of these moves can't be explained by even the emotional logic of the markets, when so much of the buying and selling is automatic.

It's possible the first time. But this time I don't see (so far) any tipping point for it to occur. Do you?
post #40 of 46
Quote:
Originally Posted by melgross View Post

It's possible the first time. But this time I don't see (so far) any tipping point for it to occur. Do you?

Not sure I know exactly what you are asking, but if you're looking for the secret sauce in program trading, I don't think it's anywhere people like us are ever going to see it. Someone gets paid large sums to figure out when it's statistically optimal for the magic buy and sell switches to get thrown.
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