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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.





"A lot of people pay zero for the cellphone ... That's what it's worth." -- Apple Chief Operating Officer Timothy Cook



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