Apple's market cap soars past $800 billion as shares march higher on 'iPhone 8' hype

Posted:
in AAPL Investors
Investors have largely moved past Apple's latest results and are focused on an anticipated iPhone redesign, as the company's stock continues to achieve new milestones, crossing the $800 billion market capitalization threshold on Monday.




In afternoon trading, shares of AAPL pushed past $153, up more than 3 percent for the day. That was enough to grow the company's market cap to north of $800 billion -- the first time ever the company has been valued so high.

The achievement comes less than three months after Apple returned to a market cap above $700 billion. Apple was originally the first U.S. company in history to close with a market cap above $700 billion, a milestone it reached in February of 2015.

Prior to this year's gains, Apple had topped off at about $775 billion in value before shares receded. This year has been particularly strong for Apple on the market, up from about $116 to start 2017.

Apple is also trading significantly higher than its 52-week low of $89.47.




Continued growth for shares of AAPL is attributed largely to hype for the company's anticipated "iPhone 8," which is expected to be unveiled in September with a completely new design sporting an edge-to-edge OLED display. Hype for the next iPhone has offset investor disappointment that iPhone growth has largely stalled, with shipments decreasing slightly last quarter.

Though iPhone sales have been flat, analysts on Wall Street view the maturing smartphone market as a minor speed bump for Apple, with many predicting a so-called "super cycle" for the "iPhone 8." They cite a growing number of iPhone 6 and older devices on the market, paired with strong loyalty to the iPhone brand, as catalysts for a major upgrade cycle lying in wait.
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Comments

  • Reply 1 of 36
    lkrupplkrupp Posts: 6,183member

    Continued growth for shares of AAPL is attributed largely to hype for the company's anticipated "iPhone 8," 
    Baloney. The Oracle of Omaha has given his blessing and THAT’S what’s driving the buying. IMHO
    rich gregorypalominecalipscooter63jony0Rayz2016watto_cobratherunningvm
  • Reply 2 of 36
    NY1822NY1822 Posts: 499member
    bring out Colin Gillis
    jcdinkins
  • Reply 3 of 36
    FatmanFatman Posts: 142member
    The ketchup and coke king has finally realized the real money is in tech (and not IBM). BH's  news plus analyst price raise to$202 is driving stock up. As I said before ($40 ago) if you are an Apple fanboy and buy their products, become an Apple owner, put your money where your mouth is and own this company and get a piece of the pie. Still plenty of upside left.
    *Full disclosure I own a truckload of shares and I'm very happy today!*
  • Reply 4 of 36
    mwhitemwhite Posts: 142member
    sog35 said:
    party!!!1

    party!!!!

    $150
    $151
    $152
    $153

    making some $$$ bank bro's
    Sell Sell Sell Sog35 you said $150 it's there haha
    SolianantksundaramSpamSandwichargonauttherunningvm
  • Reply 5 of 36
    dayedaye Posts: 9member
    who can predicts the AAPL after the iPhone 8 launch?
  • Reply 6 of 36
    SoliSoli Posts: 7,847member
    Let's all thank Sog for eventually making this happen by wishing it would¡
    mwhiteanantksundarambrucemcStrangeDayspscooter63magman1979argonautwatto_cobratherunningvm
  • Reply 7 of 36
    lkrupplkrupp Posts: 6,183member
    And just to show how f’d up the blogosphere is the trolls over at MacRumors are trashing Apple big time over this achievement. That site has become about as anti-Apple as any Android fanboy site.
    SolimwhiteanantksundaramStrangeDaysbill42pscooter63mejsricmagman1979watto_cobratherunningvm
  • Reply 8 of 36
    anantksundaramanantksundaram Posts: 18,587member
    And yet, even at this price, the forward PE of Apple's operating assets (i.e., assets ex-cash) is only 11x-12x!

    If someone wants to sell, well... I don't know what to say.
    patchythepirateargonaut
  • Reply 9 of 36
    lkrupp said:
    And just to show how f’d up the blogosphere is the trolls over at MacRumors are trashing Apple big time over this achievement. That site has become about as anti-Apple as any Android fanboy site.
    What the hell is MacRumours?! 😉
    mejsricargonautwatto_cobra
  • Reply 11 of 36
    melgrossmelgross Posts: 30,644member
    This isn't just because of rumors of the iPhone 8. In fact, I believe that most of the share price on iPhone rumors is already built into the price, and has been in the mid 140s.

    what I'm reading is a deeper reading of Apple's sheet. Several things pop up.

    apple's enterprise business is growing strongly at a 40% rate. A number of large businesses are standardizing on Apple iPhones and iPads. Macs in the enterprise are growing strongly. The deal with IBM is paying off in software and services.

    the services business itself is growing strongly, at an 18% clip.

    sales of "other" is growing at a 31% clip. Within that, Apple Watch sales have doubled YoY.

    its been pointed out that iPhone sales were actually slightly higher than last year's quarter, not lower, when considering the drawdown in the channel, which was 1.2 million last quarter, compared to 450 thousand last year's quarter.

    sales in China have been moving back up, as Cook pointed out during the call, it's up from the last two quarter;s of last year. Mac sales in China did very well. 80% of all phones sold in China above $600 are iPhones. The Chinese want the newest products, so a cycle is expected when that happens later this year, and next year for all products.

    in addition Apple is still trading at a discount, average P/E in the industry is 22, Apple's is about 18. Moving to the average would bring Apple's stock to about $183. Adding the $30.40 in cash per share, after debt, would bring the stock to about $213.

    there's more.

    so there's plenty room for improvement.
    edited May 2017 patchythepiratefastasleepargonautwatto_cobraiqatedo
  • Reply 12 of 36
    sflocalsflocal Posts: 4,152member
    lkrupp said:
    And just to show how f’d up the blogosphere is the trolls over at MacRumors are trashing Apple big time over this achievement. That site has become about as anti-Apple as any Android fanboy site.
    MacRumors is just the stagnant cesspool where trolls, basement dwellers, and the ex-Sog35/Avon's that got booted off of AI.  On occasion I just read the articles themselves, but don't even bother reading the forums.  The mods of Macrumors just allowed that place to rot for the sake of web-clicks.

    mwhitepscooter63fastasleepmagman1979caliwatto_cobra
  • Reply 13 of 36
    bb-15bb-15 Posts: 187member
    lkrupp said:
    And just to show how f’d up the blogosphere is the trolls over at MacRumors are trashing Apple big time over this achievement. That site has become about as anti-Apple as any Android fanboy site.
    That's why imo reading the troll infested comments on MacRumors is a waste of time. Glad AppleInsider is here. ;)
    mejsricfastasleepmagman1979caliwatto_cobra
  • Reply 14 of 36
    SpamSandwichSpamSandwich Posts: 29,516member
    melgross said:
    This isn't just because of rumors of the iPhone 8. In fact, I believe that most of the share price on iPhone rumors is already built into the price, and has been in the mid 140s.

    what I'm reading is a deeper reading of Apple's sheet. Several things pop up.

    apple's enterprise business is growing strongly at a 40% rate. A number of large businesses are standardizing on Apple iPhones and iPads. Macs in the enterprise are growing strongly. The deal with IBM is paying off in software and services.

    the services business itself is growing strongly, at an 18% clip.

    sales of "other" is growing at a 31% clip. Within that, Apple Watch sales have doubled YoY.

    its been pointed out that iPhone sales were actually slightly higher than last year's quarter, not lower, when considering the drawdown in the channel, which was 1.2 million last quarter, compared to 450 thousand last year's quarter.

    sales in China have been moving back up, as Cook pointed out during the call, it's up from the last two quarter;s of last year. Mac sales in China did very well. 80% of all phones sold in China above $600 are iPhones. The Chinese want the newest products, so a cycle is expected when that happens later this year, and next year for all products.

    in addition Apple is still trading at a discount, average P/E in the industry is 22, Apple's is about 18. Moving to the average would bring Apple's stock to about $183. Adding the $30.40 in cash per share, after debt, would bring the stock to about $213.

    there's more.

    so there's plenty room for improvement.
    AAPL hasn't jumped this much in a long time, I'm just guessing that Buffet's comments started a bonfire which exploded based on early stock momentum today.

    Incidentally, intraday high (so far) is $153.70. Spectacular.
    edited May 2017 potatoleeksoupmagman1979
  • Reply 15 of 36
    chasmchasm Posts: 703member
    "Judge not others' comments sections, lest ye be judged." :) What's important or MR is the *content from MR*, not the worthless ramblings of the peanut gallery. On that score, they do a fine job. I concur that it is a *combination* of iPhone 8 hype and the kind words from Buffet and that investment bank that are fueling today's run. Don't know if AAPL will *close* above $800M today but it looks likely to happen soon. For my part, I'm less impressed with today's jump than I am with AAPL's ongoing performance this year ... up 32 percent since the beginning of the calendar year, and up 64 percent from a year ago. You'll notice the cries to replace Cook have been mostly drowned in a huge pool of money ...
    fastasleepargonautwatto_cobra
  • Reply 16 of 36
    stevenozstevenoz Posts: 202member
    melgross said:
    This isn't just because of rumors of the iPhone 8. In fact, I believe that most of the share price on iPhone rumors is already built into the price, and has been in the mid 140s.

    what I'm reading is a deeper reading of Apple's sheet. Several things pop up.

    apple's enterprise business is growing strongly at a 40% rate. A number of large businesses are standardizing on Apple iPhones and iPads. Macs in the enterprise are growing strongly. The deal with IBM is paying off in software and services.

    the services business itself is growing strongly, at an 18% clip.

    sales of "other" is growing at a 31% clip. Within that, Apple Watch sales have doubled YoY.

    its been pointed out that iPhone sales were actually slightly higher than last year's quarter, not lower, when considering the drawdown in the channel, which was 1.2 million last quarter, compared to 450 thousand last year's quarter.

    sales in China have been moving back up, as Cook pointed out during the call, it's up from the last two quarter;s of last year. Mac sales in China did very well. 80% of all phones sold in China above $600 are iPhones. The Chinese want the newest products, so a cycle is expected when that happens later this year, and next year for all products.

    in addition Apple is still trading at a discount, average P/E in the industry is 22, Apple's is about 18. Moving to the average would bring Apple's stock to about $183. Adding the $30.40 in cash per share, after debt, would bring the stock to about $213.

    there's more.

    so there's plenty room for improvement.

     Why don't you capitalize sentences? Punctuation, grammar, style, and the rules of writing all affect one's effectiveness to the reader.
    edited May 2017
  • Reply 17 of 36
    SpamSandwichSpamSandwich Posts: 29,516member
    stevenoz said:
    melgross said:
    This isn't just because of rumors of the iPhone 8. In fact, I believe that most of the share price on iPhone rumors is already built into the price, and has been in the mid 140s.

    what I'm reading is a deeper reading of Apple's sheet. Several things pop up.

    apple's enterprise business is growing strongly at a 40% rate. A number of large businesses are standardizing on Apple iPhones and iPads. Macs in the enterprise are growing strongly. The deal with IBM is paying off in software and services.

    the services business itself is growing strongly, at an 18% clip.

    sales of "other" is growing at a 31% clip. Within that, Apple Watch sales have doubled YoY.

    its been pointed out that iPhone sales were actually slightly higher than last year's quarter, not lower, when considering the drawdown in the channel, which was 1.2 million last quarter, compared to 450 thousand last year's quarter.

    sales in China have been moving back up, as Cook pointed out during the call, it's up from the last two quarter;s of last year. Mac sales in China did very well. 80% of all phones sold in China above $600 are iPhones. The Chinese want the newest products, so a cycle is expected when that happens later this year, and next year for all products.

    in addition Apple is still trading at a discount, average P/E in the industry is 22, Apple's is about 18. Moving to the average would bring Apple's stock to about $183. Adding the $30.40 in cash per share, after debt, would bring the stock to about $213.

    there's more.

    so there's plenty room for improvement.
    I don't trust people who don't capitalize sentences.  
    You'd be making a mistake in this case. Mel is one of the good ones.
    pscooter63patchythepiratecaliargonautwatto_cobra
  • Reply 18 of 36
    melgrossmelgross Posts: 30,644member
    melgross said:
    This isn't just because of rumors of the iPhone 8. In fact, I believe that most of the share price on iPhone rumors is already built into the price, and has been in the mid 140s.

    what I'm reading is a deeper reading of Apple's sheet. Several things pop up.

    apple's enterprise business is growing strongly at a 40% rate. A number of large businesses are standardizing on Apple iPhones and iPads. Macs in the enterprise are growing strongly. The deal with IBM is paying off in software and services.

    the services business itself is growing strongly, at an 18% clip.

    sales of "other" is growing at a 31% clip. Within that, Apple Watch sales have doubled YoY.

    its been pointed out that iPhone sales were actually slightly higher than last year's quarter, not lower, when considering the drawdown in the channel, which was 1.2 million last quarter, compared to 450 thousand last year's quarter.

    sales in China have been moving back up, as Cook pointed out during the call, it's up from the last two quarter;s of last year. Mac sales in China did very well. 80% of all phones sold in China above $600 are iPhones. The Chinese want the newest products, so a cycle is expected when that happens later this year, and next year for all products.

    in addition Apple is still trading at a discount, average P/E in the industry is 22, Apple's is about 18. Moving to the average would bring Apple's stock to about $183. Adding the $30.40 in cash per share, after debt, would bring the stock to about $213.

    there's more.

    so there's plenty room for improvement.
    AAPL hasn't jumped this much in a long time, I'm just guessing that Buffet's comments started a bonfire which exploded based on early stock momentum today.

    Incidentally, intraday high (so far) is $153.70. Spectacular.
    His comment went under the "there's more" segment. See, I'm getting more like Apple, and bundling a number of things together.
  • Reply 19 of 36
    SpamSandwichSpamSandwich Posts: 29,516member
    melgross said:
    melgross said:
    This isn't just because of rumors of the iPhone 8. In fact, I believe that most of the share price on iPhone rumors is already built into the price, and has been in the mid 140s.

    what I'm reading is a deeper reading of Apple's sheet. Several things pop up.

    apple's enterprise business is growing strongly at a 40% rate. A number of large businesses are standardizing on Apple iPhones and iPads. Macs in the enterprise are growing strongly. The deal with IBM is paying off in software and services.

    the services business itself is growing strongly, at an 18% clip.

    sales of "other" is growing at a 31% clip. Within that, Apple Watch sales have doubled YoY.

    its been pointed out that iPhone sales were actually slightly higher than last year's quarter, not lower, when considering the drawdown in the channel, which was 1.2 million last quarter, compared to 450 thousand last year's quarter.

    sales in China have been moving back up, as Cook pointed out during the call, it's up from the last two quarter;s of last year. Mac sales in China did very well. 80% of all phones sold in China above $600 are iPhones. The Chinese want the newest products, so a cycle is expected when that happens later this year, and next year for all products.

    in addition Apple is still trading at a discount, average P/E in the industry is 22, Apple's is about 18. Moving to the average would bring Apple's stock to about $183. Adding the $30.40 in cash per share, after debt, would bring the stock to about $213.

    there's more.

    so there's plenty room for improvement.
    AAPL hasn't jumped this much in a long time, I'm just guessing that Buffet's comments started a bonfire which exploded based on early stock momentum today.

    Incidentally, intraday high (so far) is $153.70. Spectacular.
    His comment went under the "there's more" segment. See, I'm getting more like Apple, and bundling a number of things together.
    Ha! ("There's more" sounds an awful lot like "one more thing...").  ;)
    edited May 2017
  • Reply 20 of 36
    bill42bill42 Posts: 117member
    lkrupp said:
    And just to show how f’d up the blogosphere is the trolls over at MacRumors are trashing Apple big time over this achievement. That site has become about as anti-Apple as any Android fanboy site.
    Yeah what's up with MacRumors?? I've noticed them become apple bashers over the last month or two. Very strange.
    watto_cobra
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