Apple Is Worth Nearly $500 Billion
Apple soared past the $500 mark earlier today (Monday) to close at $502.60.
Apple Inc., which has been on an unbelievable roll over the past 4-5 years, is now worth $468.61 billion. Apple is the world's most valuable company, with Exxon Mobil Corporation ($399.64 billion market cap) a distant #2.
With Apple trading past the $500 mark earlier today and currently worth nearly half a trillion dollars, the inevitable question that will be asked is - will Apple be the world's first trillion dollar company?
Consumers all over the world are still snapping up Apple products like they are going out of style. Apple continues to penetrate new markets throughout the world. Apple has a new iPad rumoured to be coming out in March, with new versions of the iPhone and other popular devices following close behind.
On top of all of that, Apple is sitting on nearly $100 billion in cash, and there is talk that the company might start issuing a dividend soon.
Analysts, for the most part, continue to love the company. I've seen targets of $550, $600 and even higher over the past few days. Investors continue to love the stock as well, and why not? It's performed ridiculously well over the past couple of years. Less than 3 1/2 years ago, you could have owned shares of Apple for just $90/share.
What do you think - will Apple be the world's first trillion dollar company?
Filed under: General Market News