Apple closes at new all-time high as world?s largest company
Shares of Apple rose nearly 3 percent Monday to close at a new all-time high of $411.63, padding the electronic giant?s lead over Exxon Mobile as the world?s most valuable company.
Apple?s previous high came on July 26 of this year when the stock hit $403.41 per share.
With Monday?s $11.13 gain, the Cupertino, Calif., iPhone maker retains its title as the world?s largest company by market capitalization, outpacing the former crown holder Exxon Mobil Corporation by $23 billion.
Since Apple overtook the energy giant in August, its market cap has grown by more than $44 billion and now stands at $382.01 billion compared to Exxon?s $358.34 billion.
Though some had expected a sell-off after Apple co-founder Steve Jobs resigned as the company's CEO in late August, shares of the company have actually risen more than 10 percent since then. Wall Street analysts suggested that Jobs' resignation had already been priced into the stock. Investors have compared Jobs to business magnates Henry Ford and Walt Disney, whose companies successfully carried on their legacies long after they stepped down.
The rise also comes amid growing anticipation that the electronics maker is on the verge of introducing the iPhone 5, widely expected to hit the market around mid-October.
AAPL trading prices from Monday. Chart via Google.
Last quarter, Apple shipped a record 20.34 million iPhones, accounting for 46 percent of the company?s revenue. One analyst recently told AppleInsider that Apple plans to build 30 million iPhone 5s in the fourth quarter of calendar 2011.
Apple?s growth comes as U.S. markets took a moderate downturn Monday, due to investors shedding risky assets while Greek officials held a conference call with foreign creditors over their looming debt crisis, according to The New York Times.
Meanwhile, the NASDAQ closed down .36 percent while the Dow Jones and S&P 500 both fell .94 and .98 percent respectively.
Apple?s previous high came on July 26 of this year when the stock hit $403.41 per share.
With Monday?s $11.13 gain, the Cupertino, Calif., iPhone maker retains its title as the world?s largest company by market capitalization, outpacing the former crown holder Exxon Mobil Corporation by $23 billion.
Since Apple overtook the energy giant in August, its market cap has grown by more than $44 billion and now stands at $382.01 billion compared to Exxon?s $358.34 billion.
Though some had expected a sell-off after Apple co-founder Steve Jobs resigned as the company's CEO in late August, shares of the company have actually risen more than 10 percent since then. Wall Street analysts suggested that Jobs' resignation had already been priced into the stock. Investors have compared Jobs to business magnates Henry Ford and Walt Disney, whose companies successfully carried on their legacies long after they stepped down.
The rise also comes amid growing anticipation that the electronics maker is on the verge of introducing the iPhone 5, widely expected to hit the market around mid-October.
AAPL trading prices from Monday. Chart via Google.
Last quarter, Apple shipped a record 20.34 million iPhones, accounting for 46 percent of the company?s revenue. One analyst recently told AppleInsider that Apple plans to build 30 million iPhone 5s in the fourth quarter of calendar 2011.
Apple?s growth comes as U.S. markets took a moderate downturn Monday, due to investors shedding risky assets while Greek officials held a conference call with foreign creditors over their looming debt crisis, according to The New York Times.
Meanwhile, the NASDAQ closed down .36 percent while the Dow Jones and S&P 500 both fell .94 and .98 percent respectively.
Comments
But most valuable? Heck yeah.
Someday, AI may actually properly report financial topics accurately.
But not today.
Sorry, when you measure company size (as in "largeness"), the accepted measurement is revenue, not market capitalization. The three largest companies in America today are Wal-mart, Exxon Mobil, and Chevron.
Someday, AI may actually properly report financial topics accurately.
But not today.
The "accepted measurement"? By whom, other than (the now-nearly-defunct) Fortune?
I think you're a bit off on your finance today....
It's like Cook & co says: even we are amazed.
Just brace yourselves - if there's no cataclysm, AAPL is going through the roof and I don't even have the guts to guess away where AAPL will be a year from now.
Challenge: any guesses? $600 anyone?
But yet they refuse to pay out a dividend...with almost a hundred billion dollars in the bank. Apple has realized they no longer need those who invest in them because of their cash stockpile. Very sad. Never forget those who helped fund you when things were just ok. If you're gonna hoard your money, at least give more back to the community. Do I dare mention Target gves more money back to the community and they are no where near Apple's worth? You're already number 1 in so many areas, try to be number 1 in areas that really matter.
What is this "community" that you refer to?
Sorry, when you measure company size (as in "largeness"), the accepted measurement is revenue, not market capitalization. The three largest companies in America today are Wal-mart, Exxon Mobil, and Chevron.
Someday, AI may actually properly report financial topics accurately.
But not today.
You may want to tell all of the financial outlets, because I don't think they got the memo. Forbes, MarketWatch, asymco, Yahoo Finance...... all have articles on "market cap". So, I guess market capitalization may be of some interest.
The "accepted measurement"? By whom, other than (the now-nearly-defunct) Fortune?
I think you're a bit off on your finance today....
Nah, not just Fortune.
Let's face it, the two most important statistics for the Street are revenue and EPS.
I realize that there are financial articles by a variety of sources about market cap (or any other financial barometer), but as long as CFOs still read Fortune, revenue is the benchmark. I never said that revenue was the only measurement of a company's fiscal health, just that is was equivalent to "large". And large doesn't necessarily mean good, healthy, efficient, etc.
If you want to assess a company's overall value, there are probably 20-30 financial statistics to consider, plus intangible/subjective ratings like what they do to combat climate change or how they treat employees.
But yet they refuse to pay out a dividend...
Do I dare mention Target gves more money back to the community and they are no where near Apple's worth? You're already number 1 in so many areas, try to be number 1 in areas that really matter.
You're right, Apple is no where near Target's (who?) worth. Must be because they have a smart use for all that cash.
Which brings me to:
You're right, Apple is also number 1 in areas that really matter such as their cash management.
What is this "community" that you refer to?
Serious? The communities both you, I, and everyone else on this blog site belong to. Schools, rec centers, volunteer events, natural disaster reliefs, etc etc etc.
Let's face it, the two most important statistics for the Street are revenue and EPS.
(Leaving aside the fact that that Operating Margin and Free Cash Flow might be at least equally important) Why do you suppose the Street cares about those two numbers?
Sorry, when you measure company size (as in "largeness"), the accepted measurement is revenue, not market capitalization. The three largest companies in America today are Wal-mart, Exxon Mobil, and Chevron.
Someday, AI may actually properly report financial topics accurately.
But not today.
Yeah, like Nokia with their high and mighty revenue... but almost no profit?
Right...
You're right, Apple is no where near Target's (who?) worth. Must be because they have a smart use for all that cash.
Which brings me to:
You're right, Apple is also number 1 in areas that really matter such as their cash management.
Apple is acting like money is everything by not being a community leader; you can still be hugely successful while still being a major player in the philanthropy arena. And I promise you, Steve Jobs is now realizing money isn't everything.
(Leaving aside the fact that that Operating Margin and Free Cash Flow might be at least equally important) Why do you suppose the Street cares about those two numbers?
Oh, I never said that they don't.
But the first two numbers that the Street will report will be revenue and EPS.
Again, I'm not saying those are the exclusive two measurements of a company's fiscal value. I'm just saying that the Street starts with those two measurements.
Go ahead and look at any recap of a corporate earnings announcement. Revenue and EPS are always the first two stats mentioned.
Let's face it, it's a bit like baseball statistics. Batting average and hits are two most reported hitting statistics, even though there are many more measurements that might be more important (SLG, OBP, OPS, etc.).
But yet they refuse to pay out a dividend...with almost a hundred billion dollars in the bank. Apple has realized they no longer need those who invest in them because of their cash stockpile. Very sad. Never forget those who helped fund you when things were just ok. If you're gonna hoard your money, at least give more back to the community. Do I dare mention Target gves more money back to the community and they are no where near Apple's worth? You're already number 1 in so many areas, try to be number 1 in areas that really matter.
LOL, this is a retarded argument, it's a growth stock on a massive scale, want a dividend? Sell a share, there's your dividend.
I have a quarter mil in Apple stock, and I don't give a damn about a dividend...
Apple is acting like money is everything by not being a community leader; you can still be hugely successful while still being a major player in the philanthropy arena. And I promise you, Steve Jobs is now realizing money isn't everything.
cringe comment there about Steve.
Actually, I believe that money was at most a minor concern to Steve and to Apple leadership. They are/were so focused on creating great stuff they missed some other important things. Hopefully that will improve.