Apple stock hits $200 for the first time post-split

Posted:
in General Discussion edited August 2018
Following Apple's third quarter earnings announcement, the company's stock broke the $200 per share milestone at 10:37am eastern on Tuesday morning, for the first time since Apple's stock split four years ago.

Tim Cook in a CNBC interview


After hovering just below $200, the share price briefly touched the milestone, before dropping just below the figure. A few minutes later at 10:39am eastern, the price again reached $200, then continued to hover around the same level. The price remained over $200 for most of the afternoon and closed Wednesday at $201.50. According to one analyst, Apple's stock will need to reach $203.45 in order to hit a market capitalization of $1 trillion.

Apple's stock closed at $190.29 Tuesday, 30 minutes before the earnings were announced. For the hour or so after earnings, and through the overnight, the price hovered around $198.

The company hit its previous post-split all-time high, of $194.82, on July 25. Its stock has broken records throughout the year.

Apple executed a 7-for-1 stock split in June 2014, in order to make its stock more accessible to a greater number of investors. Before the split, Apple's stock hit an all-time high of $700 in September of 2012, following strong sales of the iPhone 5.

In April of this year, Apple's stock dropped into the 160s on fears that it was looking at soft iPhone demand. But the announcement of surprisingly strong Q2 earnings -- as well as the revelation that Warren Buffett had upped his stake in the company -- brought the price up to a then-high of $183.83 on May 4.

There were then no significant reasons for Apple's stock to drop at any point in the third quarter, leading up to Tuesday's earnings.

Comments

  • Reply 1 of 15
    fallenjtfallenjt Posts: 3,976member
    $Trillion company, baby!
    magman1979
  • Reply 2 of 15
    lkrupplkrupp Posts: 7,155member
    fallenjt said:
    $Trillion company, baby!
    Nice for bragging rights but not much else. Still, it will be fun to rub trolls noses in it.
    canukstormericthehalfbeeandrewj5790magman1979claire1brucemc
  • Reply 3 of 15
    racerhomie3racerhomie3 Posts: 1,141member
    $1 T baby. Just a few more hours!
    magman1979
  • Reply 4 of 15
    mjtomlinmjtomlin Posts: 1,876member
    Have share buy backs in the previous quarter been posted yet? if not, it will cause the market cap to drop $20 billion.
    edited August 2018
  • Reply 5 of 15
    fallenjtfallenjt Posts: 3,976member
    mjtomlin said:
    Have share buy backs in the previous quarter been posted yet? if not, it will cause the market cap to drop a bit.
    $20B in June. I expected AAPL will hit $204.45 by the end of this week as long as Trump doesn’t say a thing about China trade tariffs.
  • Reply 6 of 15
    SpamSandwichSpamSandwich Posts: 31,187member
    An even bigger jump today than I was expecting. No complaints here. My retirement is tantalizingly close now. Toast! 
    edited August 2018 equality72521
  • Reply 7 of 15
    SoliSoli Posts: 8,970member
    lkrupp said:
    fallenjt said:
    $Trillion company, baby!
    Nice for bragging rights but not much else. Still, it will be fun to rub trolls noses in it.
    One could brag about it, but it's not about bragging rights. Saying Apple is worth $982 billion (as of right now) is bragging rights over every other company that is worth less just as if Apple was worth $1.03 trillionn would also be bragging rights over all companies that are worth less, if you waned to look at it that way.

    The point of the $1 trillion mark is about it being a milestone.

    There's still a lot of hate against Apple despite their success and ability to turn an actual profit, and plenty of articles claiming Apple will not be the first trillion dollar company:


    For me, the greatest benefit for Apple being the first publicly traded company to reach the $1 trillion milestone is that you can't ever take that away from them, and I've had to deal with people since the late 1990s telling me that Apple isn't a good investment. 
    edited August 2018 anantksundaramzeus423StrangeDaysbrucemc
  • Reply 8 of 15
    lkrupplkrupp Posts: 7,155member
    Soli said:
    lkrupp said:
    fallenjt said:
    $Trillion company, baby!
    Nice for bragging rights but not much else. Still, it will be fun to rub trolls noses in it.
    One could brag about it, but it's not about bragging rights. Saying Apple is worth $982 billion (as of right now) is bragging rights over every other company that is worth less just as if Apple was worth $1.03 trillionn would also be bragging rights over all companies that are worth less, if you waned to look at it that way.

    The point of the $1 trillion mark is about it being a milestone.

    There's still a lot of hate against Apple despite their success and ability to turn an actual profit, and plenty of articles claiming Apple will not be the first trillion dollar company:


    For me, the greatest benefit for Apple being the first publicly traded company to reach the $1 trillion milestone is that you can't ever take that away from them, and I've had to deal with people since the late 1990s telling me that Apple isn't a good investment. 
    Already seeing articles stating Apple will NOT be the first publicly traded company to reach $1trillion. That honor, they say, goes to PetroChina who in 2007 very briefly exceeded $1trillion the day it went public on the Shanghai exchange. Since then PetroChina has collapsed to $210 billion in market cap, declining over $800 billion. Anything to spoil the fun I guess. So Apple may be the first publicly traded American company to reach $1trillion but I’m sure some troll or hater will find a way to dispute that too. The last time this possibility was talked about some troll under a bridge argued that the Dutch East India Company was worth $7.4 trillion in today’s dollars way back in 1791. In 2015 that bastion of Apple haters known as BusinessInsider published a screed declaring that Apple’s “meager” $725 billion market cap was blown out of the water by the Dutch East India Company.

    https://www.businessinsider.com/apples-market-cap-in-fx-inflation-adjusted-context-2015-2

    So you see there will always be ways to dismiss or even disparage Apple’s achievements. If and when Apple reaches that $1trillion mark you will see the Internet literally explode with “yeah buts” and “so whats” followed by dismissals, denials, spin, misinformation, redirection, etc. Wait for it.
    edited August 2018 equality72521StrangeDaysbrucemc
  • Reply 9 of 15
    SoliSoli Posts: 8,970member
    lkrupp said:
    Soli said:
    lkrupp said:
    fallenjt said:
    $Trillion company, baby!
    Nice for bragging rights but not much else. Still, it will be fun to rub trolls noses in it.
    One could brag about it, but it's not about bragging rights. Saying Apple is worth $982 billion (as of right now) is bragging rights over every other company that is worth less just as if Apple was worth $1.03 trillionn would also be bragging rights over all companies that are worth less, if you waned to look at it that way.

    The point of the $1 trillion mark is about it being a milestone.

    There's still a lot of hate against Apple despite their success and ability to turn an actual profit, and plenty of articles claiming Apple will not be the first trillion dollar company:


    For me, the greatest benefit for Apple being the first publicly traded company to reach the $1 trillion milestone is that you can't ever take that away from them, and I've had to deal with people since the late 1990s telling me that Apple isn't a good investment. 
    Already seeing articles stating Apple will NOT be the first publicly traded company to reach $1trillion. That honor, they say, goes to PetroChina who in 2007 very briefly exceeded $1trillion the day it went public on the Shanghai exchange. Since then PetroChina has collapsed to $210 billion in market cap, declining over $800 billion. Anything to spoil the fun I guess. So Apple may be the first publicly traded American company to reach $1trillion but I’m sure some troll or hater will find a way to dispute that too.
    And then there's some privately held companies/families that could be worth a lot more, but I don't count PetroChina because it wasn't sustained. I also won't count Apple unless it's sustained. First they need to close the market at over $1 trillion, but if that only lasts for a single day before dropping the next and then never reaching it again I also wouldn't consider Apple as being a $1 trillion company (at least not without an asterisk by its name).
  • Reply 10 of 15
    dewmedewme Posts: 2,098member
    Soli said:
    And then there's some privately held companies/families that could be worth a lot more, but I don't count PetroChina because it wasn't sustained. I also won't count Apple unless it's sustained. First they need to close the market at over $1 trillion, but if that only lasts for a single day before dropping the next and then never reaching it again I also wouldn't consider Apple as being a $1 trillion company (at least not without an asterisk by its name).
    Yeah, private companies like Saudi Aramco, with estimates of 4 - 7 trillion.
  • Reply 11 of 15
    carnegiecarnegie Posts: 726member
    mjtomlin said:
    Have share buy backs in the previous quarter been posted yet? if not, it will cause the market cap to drop $20 billion.
    A new outstanding share count will be released (in Apple’s 10-Q) later today. As of the last reported share count, the share price needed was $203.46.

    But some of that $20 billion worth of buy backs (in the just passed quarter) would have been accounted for in the old share count, as that count was as of April 20th. And the share count used for the diluted EPS (which is an average) suggested that the ending share count for the quarter wasn’t 100 million or so (i.e. $20 billion worth) less than the last reported share count. So, unless Apple bought back a good bit of stock in early July, I wouldn’t expect the updated share count to fall by 100 million shares.
    Soli
  • Reply 12 of 15
    claire1claire1 Posts: 510unconfirmed, member
    Blah blah blah still doomed.
  • Reply 13 of 15
    rogifan_newrogifan_new Posts: 4,101member
    According to 10-Q share count was reduced by 85M. Looks like the stock will now need to hit $207 and change to hit $1T. 
  • Reply 14 of 15
    lkrupplkrupp Posts: 7,155member
    Closed at $201.50   +11.21    $990.4 billion

    If it doesn't happen tomorrow then be prepared for the cries of failure and doom from all quarters. Oh, and the word "fizzle" will be trotted out too.
    edited August 2018
  • Reply 15 of 15
    ivanhivanh Posts: 360member
    If Apple announces it will buy back another $100 billion in next 2 days, the share price may go up to $300.
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