“Thursday, May 31st closed out the fifth month of an already interesting year in the equities market. Google is closing right around $500 and looks positioned to move past its old high of $513. Apple is closing in on another new 52 week and all-time high of $121. Apple and Google have distinguished themselves as the new leaders of the technology world: the horses to chase. They are now the two table setters and the rest are trying to catch these two race horses,” Georges Yared writes for SeekingAlpha.
“The 1980’s and 1990’s saw the mantle handed over to Cisco Systems, Microsoft, Dell and Oracle.The leaders at that time were IBM, HP and Xerox. The new leaders of Cisco, Microsoft, etc. companies posted up mega-growth year over year with innovative products and a hungry customer base. They collectively took advantage of a massive spending cycle by enterprises and governments. Other than Dell, who has major issues, the other three are back and growing at decent levels again. But the new leadership belongs to Google and Apple,” Yared writes.
Full article here.
We guess one can describe an undistinguished, nondescript, dime-a-dozen Windows box assembler that no one off the payroll would miss if the company ceased to exist this afternoon – say Michael Dell sold the company and gave the money back to the shareholders – as having “major issues.” Pretty charitable. Overall, of course, Yared is correct: Apple and Google today are several lengths out front and pulling away.