“Back when Gerald Ford was in the White House in 1975, Apple was a venture capital start-up. Now it’s neck ‘n’ neck with Microsoft — which traces its own lineage back to that same year –f or status as the No. 2 property in the S&P 500 Index,” Martin T. Sosnoff writes for Forbes. “With a market capitalization around $325 billion, only Exxon Mobil, with roots in Standard Oil under John D. Rockefeller better than a century beforehand, exceeds Microsoft and Apple for stock market value.”
“Conceivably, Apple has a shot at numero uno as the iPhone gains market share (still low) and the iPad tracks a clear footprint in the tablet computer sector. The early read is that the iPad is a crowd pleaser,” Sosnoff writes. “Analysts are modeling 5 million to 7 million units in its maiden year. For years these same analysts grossly underestimated new product momentum at Apple, even for its traditional line of Macintosh computers and the iPhone.”
MacDailyNews Take: Right you are, Mr. Sosnoff, and they’re doing it yet again.
Sosnoff continues, “What I love about Apple is it never looks too expensive. It was cheap at $35 with $10 a share in cash, still looks cheap to me at $270 and wouldn’t look pricey at $350.”
Full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]