Apple Computer shares hit new all-time high

Shares of Apple Computer, Inc. rose $1.56, or %2.40%, today to hit a new all-time high of $66.52 on volume of 19.266,430 in NASDAQ trading today.

In after-hours action, Apple shares are up $0.25, or 0.38%, to $66.77.

Apple’s previous all-time high was $65.88 set on 11/17/2005. Apple’s 52 Week Low was $28.95 set on 11/22/2004.

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Related articles:
S&P analyst reiterates ‘hold’ on Apple, raises price target from $56 to $66 on TiVo news – November 21, 2005
Bear Stearns reiterates Apple ‘outperform’ rating, raises target to $70; AAPL hits new all-time high – November 16, 2005
Morgan Stanley ups Apple share price target from $60 to $70, expects ‘impressive’ future results – November 10, 2005
UBS: Apple to unveil Intel-based Mac mini in January; AAPL share price target raised to $74 – November 07, 2005

30 Comments

  1. When are people going to realize that splits don’t change market caps (by a significant amount). Stock holders at the time of the split (assuming a 2 for 1 split) get twice the number of shares of stocks at half the face value.. it’s only the market’s pre and post reaction to the split annoucments (mostly illogical and unpredictiable) that adjusts the the stock price and indirectly the capitalization.

  2. Yes I am aware that stock splits don’t give you greater value in your shares they give you x amount of shares for each share you own which effectively halves or divides the share value by the amount it is split. What I meant in my speculation was that after the shares split in January valued @ say $80US a share and become twice as many (currently 1.8 Billion shares is my understanding) or 3.6 Billion shares @ $40 per share and then increase in share value over the course of the year to $80US a share and repeat share split(giving 7.2 Billion shares @ $40US a share), by my fuzzy speculation that will put Apple pretty close to Microsoft in market value. I would need to be able to come up with an advanced mathematical equation to figure that out which is WAY beyond my mathematical ability (I never got my head around algebra). I am actaully guessing that it will take about 4 years for Apple to equal Microsoft in market value since Microsoft is worth about $285 US Billion and only increasing in value by approx 9% per annum vs Apple’s 45% per annum.

  3. I do currently own a few small share parcels in managed funds and a few local companies and have owned/traded shares since 1985 but lost a lot of my initial shares in the crash of ’87 which is refered to as Black Tuesday in NZ since we are a day ahead of the US.

  4. @ Winmacguy:

    I suspect that I’m one of the few “amateur observers” who actually keeps an accurate weekly record of the market caps of the companies I mentioned, which means that I know that Dell’s market cap is declining almost at the same rate that Apple’s is increasing (although Dell’s appears to have bottomed out for now).

    Equallly, I’ve spotted that whilst HP’s value has climbed by well over 50% since September 04, it is no match for AAPL’s meteoric near 100% rise during 2005 and – with more iPod growth likely in calendar 2006 and new Windows-capable Intel-based Macintosh systems due in 2006 – it is unlikely to be able match Apple in the near future.

    I’ll tell you what, before we get sniffy, let’s just see how things work out and you can call me an idiot in twelve months time…

  5. No sniffy comments required from this end MCCFR. My comments actually relate to comments made by a poster recently over at osnews.com who spelled it out in a more informed manor than I can after a comment was made by another poster that at Apple’s current rate of market value and yearly percentage increase (not taking previously mentioned share splits etc into account) that Apple would surpass Microsoft in 16 years. One of the posters mentioned each companies value including Dell. I then sumarised that with Apple’s increasing value and therefore resulting share splits, Apple could theoretically pass Microsoft in about 3 1/2 to 4 years. ” width=”19″ height=”19″ alt=”smile” style=”border:0;” />

    Give it 1 year and see how they are going.

  6. @ Winmacguy:

    Then I apologize for my over-defensive response.

    $85 billion is a realistic appraisal of what Apple should be worth in around 12 months, based on around 30 times profits (I’m currently thinking around $2.1 billion or some 12% of sales, which I’m theorizing will be around $17.5 billion to the end of FY2006) plus the value of the balance sheet (as it will probably be) plus some future speculation.

    Margins will be improved by an increasing reliance on flash technology – which Apple appears to buying forward on – which a) is more reliable in warranty terms, b) more capable of being shipped in vast quantities (compare the volumetrics of an iPod mini pack to an iPod nano – the latter is lighter and a heck of a lot smaller) and c) more likely to attract a “miniaturization” price premium that Apple can exploit.

    I wouldn’t be surprised to see a 6GB nano at some point in the next six months with the pricing for Holiday Season 2006 being $149/$174/$199 for the 2GB/4GB/6GB units respectively.

    Mac CPUs will also benefit at the low-end from the “Intel-isation” process – if Apple can deliver iBooks and iMacs capable of running Windows either in a window or as dual-boot, we’re going to see a lot of people switching and existing Mac owners (second generation iMacs and owners of older iBooks) upgrading which will drive unit growth, whilst there also have to be some cost benefits to the move from Apple’s perspective. Also, I would expect this whole thing to muddy the education market so I’d look for Apple to score some major wins in that field, albeit at low margins.

    Which means those lucky enough to have shares – which excludes me – are likely to be looking as another share split, or the price will be around the $100 mark.

  7. How ’bout AAPL DOESN’T split? It’s working pretty good for GOOG and Mr. Buffett ($87,390 per share ” width=”19″ height=”19″ alt=”big surprise” style=”border:0;” /> ).

    I can see AAPL @ $1,725/share in ten years! (too conservative?)

    MW=food, just food for thought.

  8. Everybody sing with me:
    “We’re in the money, we’re in the money;
    We’ve got a lot of shares it takes to get along!
    We’re in the money, that sky is sunny,
    Old Man Ballmer, you are through, you done us wrong.”

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