Jeran Wittenstein and Mark Gurman for Bloomberg:
Apple Inc. shares surpassed $300 amid predictions for a robust holiday quarter, demand for wearables such as AirPods and planned services including streaming TV.
Shares of the iPhone maker rose 2.3% to close at a record $300.35, topping the $300 mark for the first time on a split-adjusted basis. Thursday’s gain was in stark contrast to the dismal start Apple had in 2019 when it cut its sales forecast for the first time in almost two decades exactly a year ago. Despite the setback, Apple went on to outperform all other megacap technology stocks in 2019 with a gain of 86%, its best year in a decade…
Investors are increasingly optimistic about Apple’s user base of nearly 1.5 billion consumers… key to generating recurring revenue from services like iCloud storage subscriptions, streaming service Apple TV+, Apple Music and AppleCare.
Apple shares traded well above $300 when the company completed a 7-for-1 stock split in 2014.
MacDailyNews Take: Maybe Mr. Market is finally figuring it out?
Even near an all-time high, the case can be made convincingly that Apple is woefully undervalued. We’re not sure that most analysts or investors can really wrap their minds around the vast amounts of money that the machine that Steve Jobs built has generated, is generating, and is capable of generating going forward. — MacDailyNews, May 3, 2018
See, THIS is why Tim has to go. ONLY 300? Why not $1000 a share, Tim? Let me offer some advice:
Make EVERYTHING… not just computers, laptops, I want monitors, I want wireless access points, I want toasters, I WANT APPLE TISSUE PAPER! It’s really a failing that I need to say this.
Make it all cheaper… I’m not a spring chicken anymore, I’m on a fixed income! Reduce the price of everything by %50 or I’m not buying another device.
STOP with the emoji… AND, while I’m at it, stay off my lawn… seriously…
I bet you voted for Hilderbeast
And you clearly voted for Criminal-in-Chief Trump. But why should that define a person, other than as a clear signal of very poor judgment in pampered, lying rich people.
Funny how libturds like you call Trump a criminal (has not committed a single crime) yet you support the most lying, thieving, corrupt candidate (proven to have committed numerous crimes) in modern history. That is the ultimate in stupidity.
And yes, being a hilderbeast supporter is a defining characteristic of severe mental illness.
That’s got to be the stupidest comment I’ve ever read on MDN.
I have been holding Apple stock since 2004 and it’s been performing far beyond any expectations I had for the stock when I bought it. There were no dividends at the time and who would have ever guessed Apple’s market cap would surpass one-trillion dollars. No Dow stock had ever been that high. It’s hard to tell what the future will bring, but so far Apple has broken plenty of stock records that I would never have dreamed of. I suppose the iPod was Apple’s starting point and then came the iPhone, iPad, etc.
I wonder if Apple would have reached this height if Steve Jobs were still alive or would the company be even more valuable. It’s dizzying just thinking about it. For a doomed company, Apple seems to be doing quite well. I didn’t think Apple would get to $300 so soon. If it were going to happen I thought it might be six months from now but here it is. I hope it stays above $300 and not take a big drop. It would be annoying to see it happen two years in a row, but it wouldn’t hurt me at all.
Best of luck to fellow shareholders in 2020. Apple has the momentum right now and I hope it can continue.
Tim, please forgive me. For years after Steve’s passing, I have to admit, I’ve been very critical of many of the things you said and did. The “Notch,” the ridiculous Mac Pro delay, the many missed product introductions (at critical times) and your not-best-for-CEOs SJW inclinations, are some of your ways/means that have brought out the caustic in me…towards you. For those times and my related thoughts and my words expressed here on MDN, I am sorry.
Today, as part of the Apple conscription, I stand before you as contrite. Though the good ‘ole days are gone (Jobs era), today’s $300/share landmark has made me new. I’ve been shocked into new visions and, from this day onward, I will fully embrace my past failures and embrace the bright Apple path ahead that you so adroitly are carving.
Thank you for $300 and I expectantly, yet humbly, hope for your dedicated and legal efforts to arrive at $400 by the end of ’20, or early ’21.
That is exactly the wrong attitude! Do not forgive Apple’s errors just because the stock price has risen. Keep Apple accountable for seeking the insanely great or you may find AAPL sinking rapidly someday.
Steve warned us not to focus on the money. He said to focus on developing great products that enabled people to do great things and the money would take care of itself.
Do not get seduced by the stock price.
From the throne you wag your finger again. Again, you probably don’t see it?
You may not like my ways/means re: humor, but you apparently fail to see the tongue and cheek and attempt at a little parody. Also, you have no idea what I think of money, nor do you have any idea what I really think about TC and SJ…nor even less about my thoughts on excellence. If you knew, none of what you wrote would make sense.
Bottom line: lighten up. It was written with almost zero seriousness…except for the fact, as an investor, I’m very pleased AAPL has hit a new high.
Imagine how much higher the stock would be if it weren’t for “the ridiculous Mac Pro delay, the many missed product introductions (at critical times)” along with all of the other management errors that we don’t even know about. With management error so humungous as the the ones you mentioned, there are bound to be many more that are secret.
dd
I thought the first commenter was being sarcastic. Cook has boosted the capalization value of Apple stock by $1 Trillion since he took over in 2011. Check it out. An amazing increase. From around 200-300 billion back then. All in all, Steve made the right choice all things considered, for his replacement CEO.
Ronner:
That is some very good writing on your part! I had multiple good chuckles and admire your cleverness.