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01-04-2011, 08:36 AM #1
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.
Last edited by StealthBravo; 01-04-2011 at 08:45 AM.
01-04-2011, 08:46 AM #2
Those are some incredible numbers.
01-04-2011, 09:04 AM #3
just crazy... Who thought that 10 years ago?I don't give a damn about Chuck Norris, Spongebob can grill under water!
01-04-2011, 09:13 AM #4
Indeed crazy numbers.
01-04-2011, 10:40 AM #5
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.
01-04-2011, 11:36 AM #6
so market cap triples in the worst economy since the great depression?
unreal lol. I guess people really need their apple products (me included)
01-04-2011, 12:02 PM #7
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?
01-04-2011, 12:35 PM #8
Boy could I kick myself in the butt for not buying into Apples stocks when they were even 89.00 a share...
01-04-2011, 01:20 PM #9
01-04-2011, 06:49 PM #10
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
01-06-2011, 07:19 PM #11
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 soonYou don't like the iPad because you don't have one!