Apple hits new all-time high, becomes first $700 billion company

Today in Nasdaq trading, shares of Apple Inc. (AAPL) rose $2.30, or 1.92%, to hit a new all-time closing high of $122.02. Apple’s previous all-time closing high was 119.94 set on February 5, 2015. Also during trading today, AAPL set a new all-time intraday high of $122.15.

 
Apple’s 52-week low stands at $72.54.

 
Apple, the world’s most valuable company, currently has a market value of $710.72 billion, making Apple the first U.S. company to surpass the $700 billion mark. Apple first traded above $700 billion in intraday trading on November 25, 2014. This is the first time the stock has closed above $700 billion in market value. The prior record had been held by Microsoft set on December 30, 1999 with a market capitalization of $618.9 billion. Adjusting for inflation to 2015, Microsoft’s market capitalization would be at $876 billion.

 
The top five U.S. publicly-traded companies, based on market value:
1. Apple (AAPL) – $710.72B
2. Exxon Mobil (XOM) – $382.22B
3. Google (GOOG) – $365.28B
4. Berkshire Hathaway (BRK-A) – $360.16B
5. Microsoft (MSFT) – $349.48B

Selected companies’ current market values:
• Walmart (WMT) – $281.35B
• Facebook (FB) – $210.44B
• Amazon (AMZN) – $173.21B
• Disney (DIS) – $173.19B
• Intel (INTC) – $160.72B
• IBM (IBM) – $157.03B
• Cisco (CSCO) – $140.57B
• Hewlett-Packard (HPQ) – $69.49B
• Yahoo! (YHOO) – $41.47B
• Adobe (ADBE) – $36.25B
• Twitter (TWTR) – $29.10B
• Sony (SNE) – $28.49B
• Nokia (NOK) – $28.35B
• ARM Holdings (ARMH) – $22.86B
• Sirius XM (SIRI) – $20.93B
• BlackBerry (BBRY) – $5.18B
• Pandora (P) – $3.09B
• Advanced Micro Devices (AMD) – $2.36B
• RealNetworks (RNWK) – $252.72M

AAPL quote via NASDAQ here.

MacDailyNews Take:
Steve Jobs

Related articles:
Apple shares hit new all-time closing high – February 5, 2015
Apple shares hit new all-time intraday and closing highs – February 4, 2015
Apple shares hit new all-time intraday high – January 30, 2015
Apple destroys Street with all-time record earnings – January 27, 2015

33 Comments

  1. How do these numbers compare to past corporations like AT&T and Standard Oil, before the split, and Microsoft, at it’s height, adjusting for inflation?

    This question, is for you, Michael Dell. Yes, think about it for a while, when putting your answer together.

    1. Microsoft’s peak would be at $876 billion in 2015 dollars. Standard Oil would be $700 Billion to $1 Trillion at its peak depending upon how you calculated it, but adjusting for inflation is a bit misleading itself.

      For example, with Microsoft, what exactly is the reference point you’re comparing it to? The stock market at Microsoft’s peak was over-valued compared to today. In a sense in market terms, you could say there’s been deflation since Microsoft’s peak (at least in terms of the stock market itself).

      1. Wasn’t MSFT trading at somewhere around a 70 P/E when it hit that number? AAPL’s is well under 17. Give AAPL a 70 P/E and it’s a $3 Trillion market cap.

          1. I thought it was something like that. The “loose change” part doesn’t matter, in fact the more cash you have the lower your P/E should be, as excess cash can’t multiply as fast as the business can.

      2. The nature of money. Very interesting, the 3rd founder of Apple, Ronald Wayne, who not only owned 10% at one time, but sold that 10%, for $800, wrote a book about money. We are destined for continuous inflation, until society collapses under its own weight. Then wash rinse and repeat.

        The main reason we went off the gold standard, is that there isn’t enough gold in the world to prop us up.

        It’s difficult to imagine a scenario of deflation, unless Ronald Wayne is wrong. Maybe 2008 was that bad. Maybe the market is in a year 2000 like bubble.

        Congratulations to Apple for breaking the $700 million figure, but it would be sweeter if they make it to $1 trillion. 😀

        1. “It’s difficult to imagine a scenario of deflation, unless Ronald Wayne is wrong.”

          Well, as you’ve pointed out, he’s been wrong before very wrong. Also, we’ve had periods of deflation, just not prolonged periods of deflation. That’s not likely to happen unless things go very wrong with our economy.

    1. The iPhone business alone with is worth $700B. Apple, “the $1T company,” is within reach (barring a general market collapse) during the next two years. About $170 per share would do it. It should be there already, but a company that is already worth $700B starts playing by a different set of rules for its stock price.

        1. True, but there are currently no “ongoing” buybacks. Just the possibility of more buybacks. While AAPL is hitting all-time highs, there will be no buybacks. Buybacks make financial sense when the trend for a stock is stagnant (or headed down), so the company spends money to take shares off the market to make the remaining shares more valuable (and show leadership’s confidence). AAPL is “hot” enough from Apple’s business success; no need to wastefully throw more money into that fire. 🙂

          However, just the possibility of more buybacks does help make AAPL go up. So billionaire what’s-his-name can keep harping about Apple needing to do more buybacks. He knows what he’s doing, and he wants AAPL to go up, just like me. He probably does not actually care if Apple does buy back more shares or not, he just wants to keep the words “Apple” and “buyback” out there in the media.

          A better use for the funds Apple recently raised (in the near-term) is to steadily increase the dividend rate inline with the average increase in AAPL price.

          1. Tim Cook today more or less said buybacks will continue or even accelerate. If AAPL is still going up then buybacks make more sense than a dividend. The (effective) return on the recent buybacks has been tremendous. And the stock price is higher because of it. A dividend is taxed right away. The tax on the appreciation of the stock price can be deferred for as long as the shareholder wishes, and at the capital gains rate when it finally is realized.

        2. Actually, if Apple does buy back more shares, there will be fewer shares outstanding. That means the stock price needed total $1T will be HIGHER than the about $170 with current shares outstanding. If Apple magically bought back all share except one, that one share would be worth the total value of the company. 😉

      1. No, you are a MORON!!! Apple suck up cheerleader BREEZE. One line cliche wonder. Vote for yourself WAY TOO MANY TIMES, much? Go away, please. You add NOTHING CONSTRUCTIVE to the discussion. Your conceit is visible for all to see. Hey, how many times can you down vote my post? Go for it and enjoy yourself, MORON!!!

  2. ‘Though the outside world looks at success from a numerical point of view, my yardstick might be quite different than that, I want to put a ding in the universe. Being the richest man in the cemetery doesn’t matter to me … Going to bed at night saying we’ve done something wonderful… that’s what matters to me.’

    ‘Steve Jobs Bio: The Unauthorized Autobiography.’

    1. Yo, Pete. Your e-mail hit my inbox responding to a February 2015 comment section article. It’s July 30, 2016.

      Yes, Apple at the time was $700 billion market cap. Today it is $570.8.

      Not sure what to make of this, but hey, APPL LONG!

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