Quick Note: Apple Stock Surges Past $500/Share
February 13, 2012 10:09 AM
comment(s) - last by
"Hubba, hubba, hubba! Money, money, money! Who do you trust?"
(Source: Warner Bros. Pictures)
Apple is now worth more than Microsoft and Google combined
While Apple has been in the news lately for
allegations of unfair labor practices at its contracted manufacturing facilities in China
, that hasn't stopped the company from increasing value for its shareholders and sending it surging ahead in market capitalization.
crossed the $500/share mark for the first time in its history this morning. The stock has surged over 17 percent in the weeks following its
blowout fiscal Q1 2012 earnings report
. The company reported revenue of $46.33B USD and net profit of a whopping $13.06B. In addition, the company sold a record 37 million iPhones during the quarter.
Apple is currently ranked as the largest company in the world by market cap. In addition, Apple's market cap is currently more than both
Following Steve Jobs' resignation as CEO in August 2011, AAPL hit a [then]
all-time high of $411
pushing it ahead of Exxon Mobile as the world's largest company by market cap.
This article is over a month old, voting and posting comments is disabled
RE: Highly Overvalued
2/13/2012 5:34:48 PM
While that might be, it's still a sad day when that company has a higher market cap then the company half the world's computers run on combined with the company half the world uses as search engine and web advertisements.
Kinda like saying facebook is worth tho IBM's.
Somehow there's just a disconnect between definitions. I know money technically isn't worth anything, but if the above can happen.... money *really* isn't worth anything.
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