“Stocks have surged more than 300 percent during this historic bull market thanks in large part to Apple,” Fred Imbert reports for CNBC.
“Apple’s stock alone accounts for 4.1 percent of the S&P 500’s gain since March 9, 2009, according to data from S&P Dow Jones Indices’ Howard Silverblatt. That date is widely considered to be the start of the current bull market, which is on track to become the longest ever,” Imbert reports. “The bull market turns 3,453 days old this Wednesday. Barring a 20 percent decline between now and then, it would mark the longest bull market in history, according to S&P.”
“Apple shares have skyrocketed more than 1,700 percent since the bull market started,” Imbert reports. “Through Friday’s close, the S&P 500 has risen 321.3 percent since March 9, 2009. Ed Yardeni, president and chief investment strategist at Yardeni Research, says the current bull may have more room to run. ‘Given what we know today, we believe that the current expansion could continue … well into next year and beyond,’ Yardeni said in a note to clients on Monday, highlighting the strength in corporate earnings.”
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MacDailyNews Take: If only Mr. Market would fairly value Apple for once!