With a market cap now over $300 billion, “Apple continues to be the second most valuable U.S. company behind Exxon Mobil, which has a market cap of $375 billion (a 52-week high),” Jon Fortt writes for CNBC. “Apple could surpass Exxon’s market cap by topping $410 per share, assuming Exxon’s stock continues trading near current levels.”
“This remarkable run in Apple’s stock is really a story of the past three and a half years,” Fortt writes. “It took almost 23 years of trading for Apple to top $100 billion in market cap in May 2007. The next milestone came less than three years later – $200 billion in March of last year. Now, 10 months later, as Steve Jobs would say – boom. $300 billion.”
Fortt writes, “Is Apple overvalued? Don’t assume that.”
Full article here.