John Melloy reports for CNBC, “Analysts have had three weeks since Apple reported its best quarter ever to breakdown the results and the verdict is finally in: Apple should be the most valuable company on earth.”
MacDailyNews Take: Longtimers, think back to 1997 and imagine hearing those words! We’ll tell you one thing: To us, regardless of their revenue, profits, or market cap, Apple has always been the most valuable company on earth.
Melloy continues, “Since the Jan. 18 report where Apple said it sold a record 16 million iPhones last quarter and nearly doubled the sales of iPads, at least five firms have raised their 12-month forecast on the stock to an average price of $467, or a 32 percent increase from here. At that level, Apple’s market value would total $433.7 billion, flying past Exxon Mobil’s current market value of $423.2 billion.”
“‘Analysts are as giddy as you can be, but Apple just keeps surpassing those numbers,’ said Pete Najarian, co-founder of TradeMonster.com and a ‘Fast Money’ trader,” Melloy reports.
Full article here.