Update 2/11: After passing $700 billion in market capitalization yesterday, Apple has been trading up as high as $124.43 a share raising market cap over $720 billion.
Apple’s stock price closed up 2.3 points today to close at 122.02 giving the Cupertino company that was on the verge of bankruptcy less than 2 decades ago, the highest market cap of all time. The closing market cap of $710B reflects significant growth since it hit a recent low of a split-adjusted 56 in mid-2013.
To put it into perspective, Apple is now valued at $100 for every man, woman and child on the face of the earth.
Speaking of AAPL, Tim Cook is at Goldman Sachs today discussing Apple’s recent success and announcing a industry first Solar farm that will offset all of Apple’s California electricity use including its Campus 2, offices and 40 retail stores.
And on that note, First Solar, the company that is partnering with Apple on the Solar Farm is up almost 10% on the news.
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Tim Cook’s interviewer over at Goldman Sachs Tech Conference just pointed this to Tim as they were finishing the interview telling him that he will remember where he was when Apple’s market cap reached 7 billion US dollars.
David Cohn, President and COO of Goldman Sachs, yep :)
Doesn’t Microsoft still hold the top spot if you adjust for inflation?
Thats true, but inflation adjustment is not very relevant for market cap analysis. Inflation is important when you want to measure purchasing power. Market cap is not something you can use to purchase anything – its largely a bragging metric.
Speaking of inflation… Microsoft hit that market cap with a P/E over 60 while riding the.com bubble; everything was overinflated. When you take the “cash” out, Apple’s stock is just over P/E 10.
Why does Michael Dell come to mind? ;-)
That’d be a lot of money given back to the shareholders now, huh
a number larger than most countries’ GDP…….
True, but less interesting when you consider that GDP is an annual number. So if you want to compare against GDP, total revenue for the fiscal year would be a much-more-comparable number.
Just for giggles and nostalgia: APPLE IS DOOMED
:)
LMAO!!!! Yeah thats so 2014 jrox! HAHA!!! Good one!
Apple has made a lot of ‘firsts’ which is probably why they’re so well-known
Apple may need another stock-split in the near future…
Congrats AAPL…!!