AAPL closes the day at all time high of $411.63, up 2.8%

We’re not sure exactly what caused today’s spike, but Apple stock had a huge day ending up 2.8% at $411.65 a share for a Market Cap of $381.62B against a down market. It had reached as high as $413.23 from a morning low of $395.20. Notably, Apple is now worth over $23B more than Exxon and is approaching the combined value of Microsoft and Google.

Reuters: Could Apple be worth $1 trillion?

Apple passed Exxon today to become the most valuable company on earth.  The excitemnt only lasted a few hours until the market rally at the end of the day put Exxon back on top, however.  But, that didn’t stop people wondering: What’s next for Apple?

Enter Robert Cyran, Columnist for Reuters, who doesn’t understand why Apple isn’t headed straight towards being the first $1Trillion company.

Apple’s sales have been surging 80 percent a year, and its profit faster. What’s more, it trades roughly in line with the growing stock market — and at less than half the price-to-earnings multiple it fetched in 2006, when revenue growth was much slower. Apple now trades at about 11 times estimated earnings for the fiscal year ending September 2012. The Standard & Poor’s 500-stock index is valued at about 10 times next year’s profit. But Apple’s sales growth is nearly 10 times faster than that of the average company. Apple also holds $76 billion of cash and investments.

So, what’s the deal? Apple, if put on the same P/E multiple it traded on in 2006, would be worth $900 billion.

And who has brighter prospects than Apple right now? Read more