“As of last check, everybody’s favorite tech company had a market cap of $342.8 billion, compared with $339.7 billion for the oil behemoth,” Mark Gongloff blogs for The Wall Street Journal. “Both stocks are down today in the market mayhem, but Exxon’s is a little more down.”
“Yesterday’s market-cap cross was just a blip — this one is lasting a little longer,” Gongloff writes. “We should probably get used to it.”
Gongloff writes, “Robert Cyran of Breakingviews writes that Apple’s P/E multiple is similar to that of the broader stock market’s and half of what it was in 2006, when the company’s growth rate was slower. If Apple had the same P/E ratio it had in 2006, it would be worth $900 billion today, he points out.”
Read more in the full article here.
MacDailyNews Take: Cupertino, prepare for lift off!
[Thanks to MacDailyNews Reader “Ellis D.” for the heads up.]
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