Apple tacked on another cool $16 billion of market value today with its $17 plus move. That’s big, folks, and larger than the entire market caps of companies such as Valero (VLO), Sprint (S), Ralph Lauren (RL), Korea Electric and Power (KEP), Agilent (A), Chesapeake Energy(CHK), and Humana (HUM) (see table). In fact, only about 325 companies have a larger market value than what Apple’s stock created today!
The company is now priced at $623.5 billion making it the most valuable company ever according to Reuters,
Apple Inc became the most valuable public company of all time on Monday, after its market value climbed beyond $620 billion to surpass a milestone set by Microsoft Corp more than a decade ago.
Apple’s market cap is now 50 percent higher than that of Exxon.
We have loved this stock. The only thing that makes us nervous longer-term is that Apple has very little recurring revenues and has to get up every morning and sell new iPads and iPhones to meet their nut.
They still have great potential to grab market share and penetrate new markets, such as China, for example. Furthermore, Apple (AAPL) does have an incredible track record of reinventing itself. So, for now, we can kick these worries down the road for another day and enjoy the ride.
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