Apple's Market Capitalization Hits $600 Billion
Apple's stock has continued its remarkable run in 2012, moving up another 1% today to briefly hit a market capitalization of $600 billion. The milestone comes just under six weeks after hitting $500 billion, and Apple's stock is now up nearly 60% since the beginning of the year.
If some analysts are to be believed, the $600 billion mark is just a brief stop on the company's way to a trillion dollar market capitalization. Analysts are beginning to float that unprecedented number as a target for Apple's stock price over the next year or so.
Apple is now within just a few billion dollars of taking Microsoft's title of most valuable publicly-traded company ever, targeting its rivals' $604 billion market capitalization achieved in December 1999. But adjusting for inflation, Microsoft's market capitalization at that time would correspond to over $800 billion in today's dollars.
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Top Rated Comments
Brazillian dollars aren't worth that much, the exchange rate right now is about 0.55 US dollars.
I am a stock holder and I am not one little bit nervious about the stock price. I still think the stock price is undervalued. Undervalued at $100, $200, $300, $400 and $500.
Just because a company has a high valuation makes it a bubble? Please. Check the P/E ratios of the bubble stocks in the DotCom crash. Check the P/E ratio of Microsoft back when it hit its peak of a $600-billion-plus valuation.
If anything Apple is still undervalued. $100 billion in cash and a P/E of a low-growth company despite serious growth.
I'll let all the armchair analysts keep chipping away while I smile at my portfolio each day.
Apple is just getting started and at this point, since I've been in at $80, I'm just going to ride it out. Apple could take a hit tomorrow and I'll still be so ahead. It's worth it just to sit back and see what happens.