“The turnaround at Apple over the past decade is nothing short of remarkable,” Paul R. La Monica writes for CNNMoney. “The company has gone from being a niche maker of computers favored mostly by graphics designers and college kids to a consumer electronics giant that has irrevocably changed both the telecom and media industries.”
MacDailyNews Take: Apple irrevocably changed the personal computer industry, too. Three times, so far (Apple II, Macintosh, and iPad).
La Monica continues, “As a result, Apple’s market value is now about $245 billion. That’s larger than 28 of the 30 Dow components. Only Exxon Mobil and Microsoft are worth more. And the gap between Apple and Microsoft is shrinking fast — Microsoft’s market value is approximately $270 billion.”
La Monica writes, “I’ve suggested that Apple could be a candidate to join the Dow in numerous columns over the past few years in which I called for GM, AIG and Citigroup to be kicked out. (They all are now former Dow members by the way.) But now more than ever, Apple merits serious consideration.”
Full article – recommended – here.