Print 31 comment(s) - last by KoolAidMan1.. on Jan 17 at 12:23 PM

Apple's market cap hits psychological milestone

While there is a bit of negative press surrounding Apple today (borked iPhone alarms), the future for the Cupertino giant is looking quite bright. The iPhone 4's expansion to Verizon Wireless is fast approaching (a fully supported Verizon "iPad 2" shouldn’t be too far behind), the Mac OS X App Store is launching this week, and Mac computer sales have been seeing an uptick over the past few quarters.

The company has now passed another “milestone” now that its stock has climbed to nearly $330 a share. As a result, the company now has a market capitalization of roughly $302 billion. 

If you recall, Apple's market cap was around $222 billion in late May of last year, putting it slightly ahead of Microsoft which was hovering around $219 billion. Microsoft's market cap today is $240 billion

For reference, Exxon Mobile has a market cap of $368 billion while Google sits at $193 billion

To back up the lofty $300+ billion market cap, Forbes' Eric Savitz says that Apple is projected to bring in revenue of $88 billion for the fiscal 2011, putting it ahead of Microsoft's estimated $68 billion. However, Apple is still expecting to trail behind Hewlett-Packard (est. $129 billion) and IBM (est. $99 billion) for fiscal 2011 revenue. 

With Apple expected to make a few waves in the form of new product in the coming weeks and months, it should be interesting to see if there is a ceiling to the stock's meteoric rise.

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Apple who?
By SSDMaster on 1/3/2011 12:44:28 PM , Rating: 2
When was the last time you bought an Apple anything? I bought an iPod a few years ago back when I bought music. Now I just stream everything to my Droid from Pandora. Hook that up to my Car stereo and I'm good...

No real need to store music any more. Don't need an iPad to "browse the internet on my couch". When I get home the last thing I want to do is get on the computer after working on them all day.

Are all the trendy customer's who buy Apple products "still discovering" Apple? Who can afford their stuff these days!?!?! I can barely afford new tires for my car.

RE: Apple who?
By Hiawa23 on 1/3/2011 1:25:56 PM , Rating: 4
When was the last time you bought an Apple anything?

Never have. Too expensive for my tastes. They should be printing money at this point, as they have a huge following, & alot of user will buy any new by em, whether they need it nor not.

RE: Apple who?
By lifewatcher on 1/3/2011 2:45:20 PM , Rating: 2
Apple is like the loud and obnoxious pretty girl at the party, who everyone wants to screw. Luckily I've always been repulsed by the arrogant ones, so Steve won't see my dollar. Looks like he's doing well without me anyways...

For what it's worth, I shall admit that I have respect for their marketing, design and gambling spirit, when it comes to pushing new products to the market.

RE: Apple who?
By inperfectdarkness on 1/5/2011 12:05:54 AM , Rating: 2
totally agree. i'll take the earthy 7/10 brunette in the corner giving me dirty looks with her eyes...over the god-awful paris hilton type any day.

wait...what were we talking about again?

RE: Apple who?
By Shadowmaster625 on 1/4/2011 8:23:04 AM , Rating: 2
Who can afford apple products? Public sector employees.

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