AAPL Hits New Record High as Apple Tops Combined Value of Google and Microsoft
What was largely an ordinary if not flat day of trading for most companies on Wall Street, shares of Apple surged to new all-time highs, coming dangerously close to the psychologically satisfying $500 level. Even at $500, however, AAPL still has legs, according to no shortage of market watchers and industry analysts who maintain price targets of between $600 and $650 for AAPL.
As a result of the $20 per share surge AAPL saw early Thursday before giving back some gains, Apple's market capitalization ballooned to $456 billion. Just how much is that exactly? Let's put it this way: it's bigger than the combined value of Google and Microsoft.
Since the lows reached by AAPL in the hours following Steve Jobs' resignation as CEO last August, AAPL has climbed approximately $150 per share. All told, it's an incredible surge that continues to inspire investors to by and hold, even at today's lofty and speculatively balloonish prices.
Some critics balked at Apple last summer when it passed Exxon to boast of the world's largest market cap. Apple's naysayers said the company's $346.74 billion value was blown out of promotion and wouldn't last. Ultimately, the critics were right about the $346 billion value not lasting. It didn't.
Today it's $100 billion higher.