In Nasdaq trading today, shares of Apple Inc. (AAPL) rose $11.21, or 5.89%, to hit a new all-time closing high of $201.50. Apple’s previous all-time closing high was $194.82 set on July 25, 2018.
AAPL’s all-time intraday high stands at $201.76, also set today.
Apple’s 52-week low stands at $149.16.
Apple, the world’s most valuable company, currently has a market value of $990.401 billion (see Note below).
The top five U.S. publicly-traded companies, based on market value:
1. Apple (AAPL) – $990.401B
2. Amazon.com (AMZN) – $876.554B
3. Alphabet (GOOGL) – $840.191B
4. Microsoft (MSFT) – $816.570B
5. Berkshire Hathaway (BRKA) – $496.417B
Selected companies’ current market values:
• Facebook (FB) – $495.591B
• Walmart (WMT) – $260.382B
• Intel (INTC) – $225.063B
• Taiwan Semiconductor (TSM) – $217.862B
• Cisco (CSCO) – $196.863B
• Disney (DIS) – $167.958B
• IBM (IBM) – $131.728B
• Adobe (ADBE) – $121.441B
• SoftBank (SFTBF) – $91.277B
• Sony (SNE) – $70.237B
• Tesla (TSLA) – $51.081B
• Hewlett-Packard (HPQ) – $37.058B
• Spotify (SPOT) – $32.088B
• Sirius XM (SIRI) – $30.788B
• Twitter (TWTR) – $23.929B
• Advanced Micro Devices (AMD) – $17.913B
• BlackBerry (BB) – $5.279B
• Pandora (P) – $2.059B
• Fitbit (FIT) – $1.428B
• RealNetworks (RNWK) – $131.486M
AAPL quote via NASDAQ here.
MacDailyNews Note: Apple Inc. released its 10-Q filing after the bell on Wednesday, disclosing a share count of 4.83 billion as of July 20. The updated share count gives Apple a market capitalization of $973.2 billion, using Wednesday’s closing price of $201.50.
SEE ALSO:
Apple shares hit new all-time intraday and closing highs – July 25, 2018
Apple shares hit new all-time intraday and closing highs – June 6, 2018
Apple shares hit new all-time intraday and closing highs – June 5, 2018
Apple shares hit new all-time intraday and closing highs – June 4, 2018
Apple shares hit new all-time closing high – June 1. 2018
Apple shares hit new all-time closing high – May 10, 2018
Apple shares hit new all-time closing high – May 9, 2018
Apple shares hit new all-time closing high – May 8, 2018
Apple shares hit new all-time intraday and closing highs – May 7, 2018
Apple shares hit new all-time intraday and closing highs – May 4, 2018
Apple shares hit new all-time intraday and closing highs – March 12, 2018
203.45 seems to be the number…. another 2 dollars more and we are at trillion! ( just a milestone… not that the workd will change on that day )
Hats Off Tim and Team.
Now please lets focus on macs and QC …. 🙏🙏🙏🙏
That number regards diluted shares. That number is slightly higher than the actual stock number Apple files at. I know it seems wonky, but that the way it is.
I’m going to put a little bit of a hold on the trillion valuation. Apple will sell more shares. So unless the shares hit over $207 shortly, which I hope, as a stockholder, they will, the valuation might drop. I’m not a believer in share buybacks, as they never raise share prices more than temporarily. So the 43 million shares Apple sold recently prevented a trillion valuation a month or more ago.
But, it will get there, though it doesn’t really mean anything directly.
Not correct ( and we have gone through this in length several times already !
Buy backs have zero direct mathematical relavance with market cap . …
Aas shares decrease …. eps increases. …. many tend to forget this basuc relation.
Its all about ttm earnings and PE … … ( Pe is subject to psycological perceptions and sentiments for future performance and stability )
What? Do you understand simple arithmetic? The less shares outstanding, the lower the market cap. Obviously sales and profits drive share price. Do you think anyone doesn’t know that? But the buying back of 43 million shares lowered the market cap by about $86 billion dollars. I said that this will hold Apple’s run to a trillion, and it has. I also said that Apple will get there. The question is when. Apple doesn’t care in the least if they get to a trillion. They want higher stock prices, which is why they are buying shares back. The fact that that doesn’t actually work the way a lot of people think doesn’t change the fact that even if it did, the immediate drop in shares cuts off the amount of valuation by that amount. In this case by about $200 per share bought back.
Apple’s latest share buyback program is for $100 billion. They’ve now used a good part of it. What happens when Apple buys back $100 billion in shares? Valuation drops. Eventually, share price rises will make up for it. Apple has bought back over $200 billion in shares in the past two, three years.
Mel..I have a very good understanding..my friend… it seems u are confused! And u neglect the EPS factor !
The only two factors effecting market cap
are:
Earnings
PE multiple ( psycological/perception factor )
Buybacks do nothing for cap…. they help the stock price given a pe .
They are a way if returning cash to shareholders and have positive valuation effect!
As a company buys and retires shares
Or as a company issues shares (like splits)
One of the following happen.:
Reduced # shares=higher eps
Increased # of shares = lower eps
It is a question how many slices the pie gets divided in..
Pie is Earnings
Slices are shares!
Now lets look at formulas!
A- EPS = TTM earnings/ number of shares !
B -Share price = EPS x PE
Or by simple substitution
C-Share price = (TTM earnings/ number of shares ) x PE.
D – Market cap = TTM earning x PE
Or some like to look at it in a more complicated way
F -Market cap =Share price x number of shares
But Substitute.. share price (C ) in (F)
U get:
G- Market cap = (TTM earnings/ number of shares )x PE x number of shares
Number of shares cancel out ( simple math)
We are left with
H- market cap= TTM Earnings x PE
Which is same as D! Where i started initially!
Thats the math and formula..
Number of shares have no direct mathematical relation to market cap.
And all sentiment/psychological forces are where PE comes in!
There is no formula that i am aware of that determins what a pe must be scientifically.. its a sibjective speculative sentiment/perception factor .. Speculative becouse no one knows what the future will be.
But yet one can speculate
based on hopefully their intense due diligence.. to minimize risk and To not over pay/value
Hope this clarifies…
Sigh! That’s a lot of words to incorrectly explain what happens when a company does a buyback. A buyback is a quick change in the number of shares. It immediately affects the valuation when done. This is a very simple concept, and is understood in finance. Your confused explaination doesn’t even address it. I see that others, who themselves don’t understand it are v]blinded by your gobblygook and love it.
Lol .. its simple yet u are still so confused ! And misguided and wrong in so many areas!
Even when i tried to idiot proof it by explaining all the details !
I did not invent the math or the definitions .. i just presented them in detail so it can be clear !
Its just arithmetic .. highschool grade ! Or lower!
If u find that confusing then u have a long way to go to catch up with even simple concepts and understanding them !
And believe me!..being condescending to others wont change any facts…. and wont unconfuse you.
Yet if u shift your focus from condisention to actually putting effort in understanding .. u might get somewhere!
Mathematical Definition are just that definitions.. They are not subjective opinions !
math is math…
Proof is proof !
Cap is cap 😉
Ttm earnings x PE ..
U can shove anytving u want under the umbrella of PE …all subjective.
But cap has no direct mathematical relation to number of shares.
As i proved/showed above!
Which seemed to just fly over your head
(BTW..? Buy backs are not quick changes or instent.. they are a process… they can take varied lengths of time .. months to years … depending on the managements decisions and plans )
yojimbo007,
I’m not sure I understand what you are saying. I thought that market capitalization was = (share price) * (outstanding # of shares).
So, if the number of shares remains constant and the price per share goes up, the cap goes up in proportion to the rise in price. If there are fewer shares and the price remains constant, the cap goes down in proportion to the decline in share numbers. That seems like “direct mathematical relevance” to me. What am I missing?
The amount of money that the company is making (or losing) does not enter into that equation, except insofar as it might affect share price (which it does, but only in combination with countless other factors). If there were a simple mathematical correlation between profits and share price, every company would have the same constant price to earnings ratio.
Obviously, the number of shares ALSO affects the earnings per share ( = total earnings/# of shares). As the number of shares goes down, earnings per share goes up. That might affect potential purchasers psychologically, increasing demand for shares and driving the price up. Then again, it might not, since the relation between eps and market price is largely psychological.
If the price does not rise as fast as the number of shares goes down, the market cap will also go down; the change in eps does not matter under those circumstances. So, if Apple announces that the number of outstanding shares has gone down from the assumed number of shares this morning to an actual 4.83 billion this afternoon, that necessarily drove the market cap based on today’s closing price ($211.50) down from $990.401B to $773.2B.
Again, what am I missing?
Sorry. $201.50, not 211.
Tx….
Please refer to my post above..
I tried to explain again in more detail
Hope it helps..
I can see where you are coming from, but It still appears that you are reversing the order of causation between the price of a share, the earnings per share, and the price:earnings ratio. The price is determined by the buyers and sellers on an open market, influenced by supply and demand. The number of shares is determined by corporate policy expressed in issuance and buybacks. The earnings are determined by business activity. All of those are independent variables.
If you know those numbers, the earnings per share, PE, and market capitalization all follow as calculated dependent variables. You can’t directly manipulate them to change the independent variables, any more than you can change someone’s height or weight by directly manipulating their body mass index or change a car’s gas tank size or fuel efficiency by directly manipulating its range. Sure, you can write an equation that appears to do that, but it is just a mathematical abstraction that does not reflect the real world.
In the real world, the PE does not act as a causative factor for the stock price (and therefore the market cap). The causation runs in the other direction: the PE varies depending on price and earnings, the independent variables. The PE ratio certainly measures the impact of the various objective and subjective factors other than earnings that affect stock price, but it does not determine them.
I never said PE is causation.. it is a reflection of the sentiment!
There are no scientific forumlas that can determine what the what it should be!
Is simply a Multiple.
But its not totaly arbtrary either .. it has to make sense financially..
that is where ones DD comes onto play!
Anyhow .. i have outlined the math for market cap..
Number of shares is not in the picture..
I did not invent the definition .. it is what it is
I am just clarifying the missconception that buybacks directly and mathematicaly effect market cap …
They dont..
PE on the other hand is open to all kinds of psychological effects..
and there is no scientific approach that determines what it should be ! (
Its highly dependent on perception and sentiment and confidence and speculation .
( we have been through this before , u and me.. i believe ) 😉
I get it now. “207.11 * X = Market Cap” is true for any market cap value, because you can set X to equal any value that makes the equation work. Of course, it works best if X equals the number of shares, but you can instead use the expression (Total Earnings/earnings per share), since that is just a particularly roundabout way of expressing the number of shares.
After I posted that last one, I finally figured out the problem. I doubt anybody is still reading this thread, but for completeness:
Market capitalization = # of shares * share price
Yes, you can substitute (total earnings/earnings per share) for “# of shares”, but that expression tacitly involves dividing earnings by earnings, which equals 1 for every possible value, so this is just a roundabout way of expressing the number of shares. The actual earnings (total or per share) doesn’t affect the outcome.
Similarly, you can substitute (total earnings/price-earnings ratio) for “price of shares”, but that expression again involves dividing earnings by earnings, which still equals 1 for every possible value, so this is another roundabout way of expressing the price of shares. The actual earnings and PE don’t affect the outcome.
So, you can figure out the market cap from the dependent variables, but why? It involves a lot of dividing numbers by themselves and then multiplying by the quotient, which is always 1. (x * 1) always equals x.
How are Real Networks and Blackberry even still on this list?
MDN likes to have them there because they don’t like the companies and are trying to how how badly they are doing. They were rivals to Apple once upon a time.
I am putting a sell on Apple, the company that created the iPhone… – Laura Goldman, May 21, 2007
My stockbroker around then told me he wanted to sell. It was about $34. When I said no, he said, incredulously: “what, you think it will go to $40?” Ah, we’re so past that now.
I wanted to buy when it was $13, but didn’t know how. Oh me… I do now.
Thank you Tim Cook and teams for helping me raising my living standards, Thank you os much for your hard-works and efforts.
Guys, please correct me if I am wrong, I’ve seen AAPL crossed $1 Trillion this morning.
Also I like to thank you Tim Cook and teams for helping me raising my living standards. Thank you so much. I love you all even though I have never met any of you. LOVE! God bless.
So much hype over a nothing burger.
June 9, 2014. Apple closed at $645.57 per share.