“It may have seemed like Apple Inc. retook its trillion-dollar market capitalization Wednesday morning, when the stock rallied on better-than-expected second-quarter results,” Ryan Vlastelica reports for Bloomberg. “But it was more mirage than milestone.”
“While the iPhone maker is hovering near re-entry into the 13-digit club, along with Microsoft Corp. and Amazon.com Inc., it falls short because of its hefty buyback program. Apple had 4.601 billion shares outstanding as of April 22, according to a filing late Wednesday,” Vlastelica reports. “The stock’s 4.9 percent advance to $210.52 on Wednesday equates to a valuation around $969 billion.”
Vlastelica reports, “Apple reported 4.72 billion shares outstanding in its last quarterly filing.”
Read more in the full article here.
MacDailyNews Take: Yes, as market cap formulas are updated with Apple’s ever-declining outstanding share count, it requires higher and higher share prices to get to the $1 trillion market value. Currently, Apple shares need to trade at or above $217.34 to hit the $1 trillion mark.
Apple again surpasses $1 trillion market value mark to become world’s most valuable company – May 1, 2019
Microsoft joins $1 trillion market cap club – April 25, 2019
Apple is once again the world’s most valuable public company – February 6, 2019
Amazon tops Microsoft as most valuable U.S. company – January 8, 2019
Apple hits landmark $1 trillion valuation – August 2, 2018
Who gives a stuff what Bloomberg thinks!!
Mathematicians in this case. Just about any other time you are right.