“Apple increased its market cap by an astonishing $574 billion in 2019, about equal to the total market valuation for Facebook,” Eric J. Savitz writes for Barron’s:
If Barron’s gave out a Stock of the Year award, we’d have to hand it directly to Apple. It’s not even a contest. Apple shares soared 86% in 2019, working steadily higher and higher into new record territory, and driving its market cap to an astonishing $1.3 trillion, eclipsed only by newly public Saudi Aramco…
Apple CEO Tim Cook deftly bobbed-and-weaved his way through contentious trade and tariff issues, building an unlikely but invaluable relationship with President Trump. The company’s wearable business is red hot… The iPhone 11 has driven more demand than many observers had anticipated, aided by a specific focus on improving the image quality from the phones’ cameras. And investors are all atingle over both Apple’s big push into services, including credit cards and cloud-based mobile gaming, and the arrival of 5G phones…
Meanwhile, don’t be surprised to see investors start musing on a potential eventual successor to Cook, who celebrates his 60th birthday in November 2020. The stock has appreciated more than five times since he took over from Steve Jobs in August 2011.
MacDailyNews Take: Tim Cook can’t retire until age 67 if he wants his full Social Security payout. 😉