“Apple is nearing a historic $1 trillion market value following its strong earnings report Tuesday for the June quarter,” Andrew Bary reports for Barron’s. “But its quest to hit that mark is being slowed by its massive stock-buyback program, which is steadily reducing its outstanding shares.”
“Apple shares are up $10.07 to $200.36, a 5.3% gain, in trading Wednesday, putting its market value at $970 billion,” Bary reports. “It had earlier hit a record $201.32. Apple needs to hit a share price of $206.49 to reach the $1 trillion milestone, according to Howard Silverblatt, the senior index analyst at S&P Dow Jones Indices.”
“This price is based on the share count of 4.843 billion on Apple’s balance sheet for June, released Tuesday as part of the earnings release,” Bary reports. “That share count, however, is likely to fall slightly when Apple releases its quarterly 10-Q report, because of the company’s ongoing share-buyback program. It likely will show a share count as of late July. The 10-Q is expected to be issued later today.”
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MacDailyNews Take: It’s a moving target.
And pretty much every stock quote source currently has a different market cap listed for Apple.
Apple could’ve been worth a trillion long ago, but for buybacks and dividends – July 31, 2018