“Standard & Poor’s on Wednesday said computer and iPod maker Apple Inc. (AAPL) will join its S&P 100 index (OEX) of big blue-chip companies,” Reuters reports.
MacDailyNews Note: Apple is replacing MedImmune Inc. after trading ends Thursday, due to MedImmune’s pending acquisition by AstraZeneca. Of the companies in the S&P 500, the 100 which have the largest market capitalization make up the S&P 100. More info about the S&P 100 here.
“Shares of companies joining S&P [indexes] often rise because many portfolio managers try to track the index, and are required to buy stocks that enter it,” Reuters reports.
Full article here.
Standard & Poor’s, a division of The McGraw-Hill Companies, is the world’s foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 7,500 employees, including wholly owned affiliates, located in 21 countries, Standard & Poor’s is an essential part of the world’s financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com
Holy Sh*t!!!
It’s about time! First Post!
comes when your company joins the DOW 30. That’s when you know you’ve hit the big time.
In other related news Standard & Poor’s name will be changed to reflect the inclusion of ,Inc.
The newly abbreviated name wil be iS&iP;… in time honoured tradiiton of all things Jobs!
or at least it should be!!!
mdn – should as in “the value of shares should go through the already smashed ceiling!”
viva la revolution!
FYI- the musical nerds about steve jobs and bill gates is coming to broadway in the fall- it hasn’t been announced yet, but someone here should spread the word…
Yep, plenty of shows here all free.
http://www.tv-links.co.uk/
Might have to install DivX to watch movies and such. Look at Apple’s Quicktime plug-in page.
Your welcome.
Yaay, I’m a nerd posting about sh-t I don’t understand on a Mac board. Yaaayyyyy!
I have 10,000 shares of AAPL. Do you think I should hold on to it or sell some?
Any ideas?
I don’t like this. Why are they adding Apple to the Standard and Poor list? I think it’s an insult. There’s nothing standard about Apple, and certainly nothing poor. Apple belongs on the excellent and rich 100.
This is wonderful news!
@ BIG MAC DADDY
so you have a million dollars in stock, and you seek financial advice on MDN? wow.
@ BIG MAC DADDY
You should sell your stock to me at a substantial discount
and then I’ll hold on to it.
Go Apple!!!
Should see a nice pop up tomorrow. Woo hoo. Go Apple.
Sell! Sell! I’m Laura Goldman of LSG Capital from Tel Aviv, Israel, and just 10 days ago I told you to put a sell on Apple!
http://macdailynews.com/index.php/weblog/comments/13675/
MW = such, as in, I’m such an idiot!
Actually I bought AAPL stock many years ago for less than 20 dollars per share because I took the advice of Mac DailyNews loyalists.
Financial advice can be found almost anywhere.
Damn!!!!!!!!!!!!!!!!!!!!!!!!!!!
BIG MAC DADDY:
You got good advice then and I’ll give you good advice now. If you don’t need the money hang on to it – AAPL will double in value by the end of 2008. And I put my money where my mouth is – I’m holding on to the 15000 shares I own.
The real prestige…
AAPL is already worth more than DJIA30 members like…
McDonalds
Home Depot
United Technologies
Caterpillar
If things progress as they currently are, AAPL will exceed the value of Nokia before the launch of iPhone, thus immediately becoming the world’s most second most valuable mobile telephone manufacturer after HP (if one takes into account the minimal iPaq phone business) and may well exceed Verizon (another DJIA30 member) by Christmas, and may also surpass HP and Intel (both DJIA constituents) around the same time.
“Shares of companies joining S&P [indexes] often rise because many portfolio managers try to track the index, and are required to buy stocks that enter it”
My AAPL holdings smile.
This should cause a spike in the price as any S&P100; index fund will now have to buy the stock.
@ BIG MAC DADDY , It all depends on your investment IQ. How comfortable are you with options? You have the equivalent of 100 options contracts each contract controlling 100 shares. Me personally I would sell 50 (120 put contracts (symbol .QAARDX) currently trading at $3.90 per share. Since each contract controls 100 shares figure to receive $390 per contract or $19,500 in your account.
Now the options contract expire on July 19 but July 18th is the last day of trading for these options. If AAPL is listed above $120 per share on July 19th. You pocket $19,500 on about $590,000 in 3 weeks or 3% return. If the shares are trading below $120 per share on July 19th the options are exercised to you and you will have to sell half your worth of AAPL stock at what ever the price is or you can buy back the options and close out the deal and keep your shares.
If AAPL was trading at $119 on Friday the 18th the options have no time value the differential between the strike price of the puts yo sold and the stock price is $1 per share so you buy back all your contracts for $5000 and You would still clear $14500 extra in your account and compound your shares by using that money to buy more AAPL on the next dip. Hope this wasn’t too complicated for you. Keep in ming that $120 per share is a psychological resistance point but AAPL could break it today.
@ BIG MAC DADDY
I can see Apple riding four major trends:
– digital home hub, including content
– iPod
– iPhone
– notebooks with Mac OS
To me each one of these trends is worth investing. Apple is focused on technology, design and marketing. What more can you ask?
And it’s fun to be a shareholder of this company. So I keep my stock.
The core is OS X.
Years of investment, now for years of extraordinary growth and returns…
bobchr
Sounds like contracts are just a bit better than taking half your stock to Las Vegas or Atlantic City.