This morning we’re seeing Apple take just a bit of a dip in stock value after having yesterday broken the historical world record for market capitalization. This company has seen growth for decades after the late Steve Jobs re-joined the company and brought it back from near-bankruptcy to profitability in the late 1990’s. Since then the company saw the birth of the iPod, the iPhone, the iPad, and the current blockbuster lines of MacBook and MacBook Air – and this newest boost comes from re-envisioned versions of their mobile lineup.
Apple became the world’s most valuable publicly traded company last year when they surpassed Exxon Mobile. Having already become the world’s largest company as far as market value goes, their next milestone was inevitable. Apple this week became the most valuable public company in the history of the world. Apple’s high marker in this situation is a market capitalization of $622.6 billion.
This marker was last set by Microsoft back in 1999 with a market capitalization of $618.9 billion set back in November of 1999. Apple is currently just the fifth company in history to have surpassed a market capitalization of $500 billion, with groups Cisco Systems, Intel, Microsoft, and General Electric being the rest of the pack. Topeka Capital Markets analyst Brian White has written this week to clients that Apple will soon have a market cap of $1 trillion.
“In June, analysts and market pundits expressed growing concern that Apple would succumb to the $500 billion ‘market cap flu’ and the stock would finally roll over. In a note on June 18, we highlighted why we felt this was a fallacious argument and pointed out that investors should think of Apple’s market cap in terms of ‘trillions’ and not ‘billions’. Based on our calculations, Apple is now the most valuable company ever, finally surpassing the market value of Microsoft at the peak, and removing a key sentiment barrier for the stock.” – White
We’re currently keeping radars tuned to Apple in regards to several new products that may very well be on the horizon: iPhone 5, iPad mini, and Apple TV (a television set, not just a box.) We’re expecting one, if not several, of these devices to be popping up on the 12th of September at an Apple event that has not yet been revealed nor confirmed by the company. Stay tuned to our Apple portal to keep up to date on all things confirmed and rumored!