Apple hits $613.40 for the First Time

If you are in the States, by this time in the you are probably still working on your coffee and newspaper. Apple, on the other hand, is up, about, and setting records.

Apple this morning reached a new, all time stock price high of $613.40 per share. The company’s market cap now exceeds $570,000,000,000. Since hitting the record, Apple has eased slightly to the $612 level. The company is up around 0.8% today.

While we won’t be covering every Apple record, we will occasionally highlight something like this to keep the firm’s market capitalization in perspective. Let’s have some fun, it’s early, after all. At a rounded valuation of $570 billion, Apple is worth:

    2.01 Microsofts
    2.7 Googles
    5.044 Ciscos

In other words, among the giants, Apple is Achilles, but without the heel. It’s important to note that while Apple is worth a full twice what Microsoft is, that ratio has softened lately by a rally in the Redmond-based software company’s valuation; Apple was worth more than two Microsofts quite recently.

While it would be easy to look at Apple, and the stunning growth of its market capitalization, and shout ‘irrational exuberance,’ what is true about the company is that its fundamentals are comically strong. A dividend is planned, along with share buy backs, on top of a PE ratio that is sub-20. Apple is healthy, and has revenues, profits, and cash to match its market cap. That’s damn impressive.

What’s next for the company? Provided it can keep the great wheels of its cash machine spinning, who can even guess.

Source :  thenextweb

Posted in: Apple,News