Analysts: Apple is most valuable company on earth

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.

29 Comments

  1. I remember I’m 1997 when I bought my shares – and everytime I saw him thereafter – my broker would always yammer about “…the high PE ratio. I think it’s a little overpriced.”

    I can’t tell you how difficult it is for me to not be smug. >8^)

  2. I cast my lot with Apple with my first Mac in 1991, then again with my first stocks in 2000. I’ve always seen great potential value in both. Apple’s big success was earned the hard way, and is well deserved. Go AAPL!

  3. @BMWTwisty

    Your broker said “I think it’s a little overpriced.”

    Mine said “Don’t touch it. They’re going out of business. If you have it in any account sell it now!”

    I fired my brokers and jumped on AAPL with both feet in the single digits (split adjusted).

  4. Should I say this? What the hell:

    It should be “Earth,” not “earth” in the headline. Earth is a planet, earth is dirt. So it should be changed, unless the intention is that Apple is the most valuable company atop dirt.

    </OCD>
    Thus ends my obsession with grammar.

  5. No, MDN, contrary to your headline, what the article actually says is, “Apple should be the most valuable company on earth.” (emphasis mine)

    Is this what passes for journalism around here?

    It may not seem like a very big deal, but I expect better from you, MDN, especially when you take others to task for minor editorial changes.

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