backtop


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.



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: Very Interesting
By Tony Swash on 1/4/2011 11:45:52 AM , Rating: 2
What can I say man. I think you are wrong and you are wrong because like so many techie luddites you are obsessed with the past and think the future will just like the comforting past. It aint gonna happen dude. We could argue about this endlessly - lets see whose projections turn out to be more accurate. Here is my projection, in one year Apple will have 80% of the tablet market and 95% of it's profit. The year after will be the same.


“We do believe we have a moral responsibility to keep porn off the iPhone.” -- Steve Jobs














botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki