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  • Apple Market Cap Blows Past $300 Billion

    On Tuesday morning, Apple was trading up yet again, with shares of the tech company remaining buoyed above $330. It's a positive start to the first trading session after Monday's significant but somewhat overlooked milestone for the Cupertino outfit. During the first full trading day of 2011, shares of Apple popped 2% and effectively pushed Apple's market capitalization beyond the $300 billion threshold for the first time in Apple's history.

    Incredibly, it was just over three years ago when Apple's market capitalization exceeded $100 billion. Not a bad 36 month-run. Still, Apple surprised few with the milestone given one record quarter after the next. Apple does, however, remain approximately $70 billion behind Exxon Mobil Corporation's market cap, which as of Monday, exceeded $375 billion. For the time being, it doesn't appear that Apple will soon overtake Exxon. By the same token, of course, no one is poised to take the second spot either - a position held by Apple since it replaced PetroChina Co. in September.

    Coinciding with the record year Apple is already off to, Piper Jaffray analyst Gene Munster stated once again this week that his 12-month price target for Apple remains at $438 per share - a full $100 higher than the stock's current value. As we covered Monday, Munster predicted that Apple will not venture into any new product categories in 2011 and, instead, focus on tweaking and improving its current product line throughout the next twelve months.

    This article was originally published in forum thread: Apple Market Cap Blows Past $300 Billion started by Michael Essany View original post
    Comments 10 Comments
    1. StealthBravo's Avatar
      StealthBravo -
      Those are some incredible numbers.
    1. madczech's Avatar
      madczech -
      just crazy... Who thought that 10 years ago?
    1. delusion950's Avatar
      delusion950 -
      Indeed crazy numbers.
    1. Cowboy's Avatar
      Cowboy -
      Makes me kick myself for not buying apple stock 10 years ago. I can barely even afford a share now. Lol

      Those numbers are just absolutely amazing tho.
    1. aimetti's Avatar
      aimetti -
      so market cap triples in the worst economy since the great depression?
      unreal lol. I guess people really need their apple products (me included)
    1. Aliquippakid's Avatar
      Aliquippakid -
      That just shows you as bad as the economy gets, people will find the money to buy what they want. Just think, how much do these credit card companies love apple? I'm sure a good chuck of that money is from financially careless people that used credit cards to get cool new products. How much interest will capital one make off a MacBook pro buyer paying minimum payment forever?
    1. thetoothfairy's Avatar
      thetoothfairy -
      Boy could I kick myself in the butt for not buying into Apples stocks when they were even 89.00 a share...
    1. 2Jaze's Avatar
      2Jaze -
      Quote Originally Posted by madczech View Post
      just crazy... Who thought that 10 years ago?
      sure as hell wish i did.
    1. feidhlim1986's Avatar
      feidhlim1986 -
      My Dad kicks himself every time he sees Apple share prices! He left the company about 6 months before the iPod was announced and cashed in all his shares, which were about $25 at the time
    1. EskimoRuler's Avatar
      EskimoRuler -
      that is just insane, im sure the new ipad will help out this year, and if the very very "rumored" verizon iphone comes out too, they'll catch up soon