“The world’s most valuable public company just made more history,” Amrith Ramkumar reports for The Wall Street Journal. “Apple shares rose 0.3% Wednesday to a new all-time high of $175.38, giving the iPhone maker a market value of $900 billion for the first time. Apple needs to close above $175.30 to close above $900 billion.”
“Apple is the first U.S. company to reach $900 billion, having already become the first to hit $800 billion when it accomplished the feat in May,” Ramkumar reports. “It now needs to grow its market capitalization by just 11% to become the first public company worth $1 trillion. Based on Apple’s share count as of Oct. 20, that would mean a share price of $194.77.”
“For comparison, the Journal’s Market Data Group found that Apple’s market value exceeds the combined market values of more than 100 of the smallest companies in the S&P 500 and gross domestic products of more than 90% of the 192 countries tracked by the World Bank,” Ramkumar reports. “After taking nearly three decades to grow to $100 billion, Apple has gone from $100 billion to $900 billion in just over 10 years.”
Read more in the full article here.
MacDailyNews Take: The decade-plus banishment of Apple’s heart and soul likely had something to do with the Apple’s floundering about way back when. Of course, without it, who knows what might have happened had Jobs stayed. Without a “maturing period,” there’s no guarantee it would have been any good at all, much less insanely great.