Apple Becomes First US Company To Hit $1.5 Trillion In Market Value (macrumors.com) 56
Apple's stock price hit a record high of $1.53 trillion, making it the first U.S. company to reach that mark. MacRumors reports: Market capitalization is simply the share price multiplied by the number of outstanding shares of the company's stock, yielding the company's overall stock market value. At a current price of around $352 per share and with roughly 4.3 billion shares outstanding, Apple's market capitalization is now at around $1.53 trillion. After hitting an all-time high share price in late January, Apple's stock slid along with the rest of the market amid the global health crisis, with Apple's share price falling 35% from its peak by late March. A strong and steady recovery brought Apple back up to a fresh all-time high last Friday, and it has continued to gain in recent days.
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Re: Keep that printing press ROLLING! (Score:2, Insightful)
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Incidentally it is worth keeping in mind that it is *not* really worth $1.5 trillion to anyone. Market cap is an extrapolation of the portion of stocks that move.
Tim Cook at last report owns what in theory would be about 640 million dollars of Apple stock (incidentally, 640 million should be enough for anybody....).
If Tim Cook hypothetically said 'you know what, I'm dumping it all', he would not find $640 million dollars worth of buyers (any large investor would have a hard time offloading that much stock,
Re: Actually we're seeing deflation (Score:2)
In case you hadnâ(TM)t noticed, pretty much ALL of Congress and the Senate voted for the Covid bills.
OMG, get ye hence and do something useful such as underwater basket weaving
The left didn't really have a choice (Score:1, Flamebait)
Also can we retire that tired meme of underwater basket weavers? First, ther
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It's not the printing press that's going to doom us, it's abandoning 20% of the population to abject poverty in a country as heavily armed as we are.
Exactly. There are over 300 million guns floating around among civilians.
And stock markets being over inflated help the CEOs whose compensation is based upon stock prices. So, between the tax cuts and Mnuchin running the printing presses, we can see exactly who our government wants to reward. Their masters: at our expense.
We regular people are going to get stuck with the bill - one way or another.
I have been reading about how nations fail and we, the USA, are down that path - it has started. We are at the
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I wouldn't call it a deflationary spiral, but it's definitely looking like we might be in a liquidity trap--similar to Japan's doldrums.
People who think hyperinflation is coming might say, "inflation is too many dollars chasing too few goods", and they focus on the "too many dollars" and forget about the importance of the *chasing*. There's very little chasing going on right now. The money isn't flowing. The Fed can print all it wants, but if the money just sits in accounts or pumps asset bubbles, it doe
Re: Keep that printing press ROLLING! (Score:2)
All the while your salaries and savings are being inflated away. Sad.
What inflation?
Pretty nice (Score:1)
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Re: Pretty nice (Score:2)
Pretty nice accomplishment. Wish I could make a trillion dollars basically rehashing a computer in a flat slab with an apple printed on the back over and over again
Sounds like somebodyâ(TM)s Jeal-ous!!!
BTW, please show me a computer OEM who isnâ(TM)t mostly just âoe[...] rehashing a computer in a flat slab [...]â.
Clap.... Clap.... Clap..... (Score:1)
Congratulations on this achievement..... that basically means nothing, besides having the ability to brag about it.
Forrest Gump (Score:3)
... just got richer. Now where's that box of chocolate again?
This really isn't a good thing (Score:2, Interesting)
Meanwhile the jobs report wasn't all that good (it's around 16.3% unemployment after corrections) but Wall Street has recovered all the gains lost in 2020. As I've mentioned elsewhere this is because the Federal Reserve has come out and said they have unlimited cash to bail them out.
Meanwhile we've got mass pr
Re:This really isn't a good thing (Score:5, Interesting)
Apple has over $200 billion cash on hand, and just hit a market cap of $1.5 *trillion*, Amazon has $50 billion in cash on hand and a market cap of $1.3 trillion, Alphabet/Google has $117 billion cash on hand, and a $1 trillion market cap. For comparison, Exxon-Mobil only has $11 billion cash on hand. The US GDP was *only* $21 trillion in 2019.
These are the companies who have written your laws, bought your legislators, bought your judges, bought your police, and made you pay for it with your taxes and purchases. The corporatocracy is here to stay.
Re:This really isn't a good thing (Score:4, Interesting)
Alphabet/Google has $117 billion cash on hand, and a $1 trillion market cap.
These are the companies who have written your laws, bought your legislators, bought your judges, bought your police, and made you pay for it with your taxes and purchases.
U.S. Is Said to Plan to File Antitrust Charges Against Google [nytimes.com]
We'll see what actually comes of it, but that's the counter-argument to the claim that Google has bought legislators (or at least enough of them to keep things in their favour).
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A cynic might suggest that there is an election cycle coming up and politicians need money to fight it. I'm sure Google will be throwing money their way now, so lets see if the investigation quietly goes away after November.
Imaginary value. Re:This really isn't a good thing (Score:2)
On your main line of analysis, I sort of think you're missing the point about how imaginary numbers work for stock prices. My computer imagines that this stock can be sold at a higher value soon. Therefore I buy it and help drive up the price. No real value there. Tomorrow my computer imagines the price is about to fall and triggers selling the stock. (But never forget that extremely clever hackers are being paid to bias the imaginary prices upwards. How high can they go?)
I think the root of these delusions
Re:This really isn't a good thing (Score:5, Insightful)
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" doesn't it mean the market is not an indicator of whether the market is good"
Correct. Did you catch Jerome Powell's speech today? He doesn't care if the Fed's money printing and other trickery jacks the stock market up. He'll keep on doing it until he thinks the economy is better. If it makes wealth inequality worse, well tough. That is Congress's problem, not his.
"We’re not focused on moving asset prices in a particular direction at all, it’s just we want markets to be working and partly as
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there's a complete disconnect between the folks at the top and how they're treated in a crisis and the folks not even at the bottom
When has that ever not been the case, crisis or not, in any country ever?
Right up until the mid 70s (Score:1)
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They always have been. Apple II was more expensive than PET and TRS. In my opinion it did feel & sound nicer to the touch, for some reason. Jobs had a nose for that thing. And, early Macs with their cool new GUI's and too few software titles were priced for the 5%.
In general Apple made the "right" choice because inequality is still increasing and shows no sign of stopping. The rich are a growth market.
The fear that Apple would shrink because S. Jobs wasn't around to cr
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They always have been. Apple II was more expensive than PET and TRS. In my opinion it did feel & sound nicer to the touch, for some reason. Jobs had a nose for that thing. And, early Macs with their cool new GUI's and too few software titles were priced for the 5%.
Expensive stuff like the original Macs - and the high priced Apple monitor, the traditional Unix workstations in the old days (which made anything Apple creates look cheap...) etc aren't made for the 5%, or for that matter the 1%. They're made for professionals. The difference in speed, the improvement in productivity, cost of alternatives or other factors might make high priced items worth it for some.
Today's Apple product are mostly priced completely differently - Mac Pro, iMac Pro and the Apple Pro Dis
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The interesting thing is that Steve Jobs wanted to price the original Macintosh about 25% lower than it was ($1500 vs. $2000 or something like that). He lost the battle to John Scully who was CEO at the time. I always wonder who the PC wars would have turned out if that were the original pricing. The installed base would have grown much more quickly at that price.
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Scully often said Jobs had a poor sense of balancing the books. But he did admit tech companies often require "moon shot" risks to survive while traditional companies often play not to lose, and he didn't understand this at the time.
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Nobody had a target application set in mind when the Mac was being conceived. It didn't even have color, so it locked itself out of half of the art scene.
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This isn't really even a relevant measure of Apple's "value".
If people started selling Apple stock in order to cash in on their share of that $1.5T, the stock price would go into freefall, which would cause even more people to sell, thus speeding up the freefall....
In other words, that $1.5T is just a number in a ledger, with no real relation to the value of the company's property....
I wonder what effect the ARM Mac will have (Score:5, Interesting)
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The pro applications are literally the only ones guaranteed to be good. They're the ones that Apple exerts the most control over and can port right away. That's why Final Cut works with the Mac Pro accelerator card and none of Adobe's stuff does yet.
Working stiff or working until a stiff (Score:4, Funny)
"I ain't buying Apple it at a trillion. That's stupid!"
I'll add that to my bag of stupid statements I've made or thought, then get back to work as I cannot retire yet.
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Spend a hunnert dollars on bitcoins at 8 cents? Throwing money out the window!
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This IPOD (first gen) thing looks like a GameBoy
On top of that it had no wireless. And less space than a Nomad. Lame.
You mean it's market cap? (Score:3, Informative)
Apple's stock price hit a record high of $1.53 trillion
No, its market cap hit $1.53 trillion. If its stock price hit that, every person that owned even a single share would be pretty fucking happy
The calm before the storm (Score:2)
MS2.0 (Score:2)
Apple is basically MicroSoft 2.0 at this point.
Nice hallucination you got there! (Score:1)
It will be fun once is comes crashing down as it clashes with actual reality!
(Hint: Two guys got the Nobel prize in economics for proving that such markets must and *should* come crashing down every once in a while, to prevent them from growing to the size of a dangerous bubble of delusion. I think this right here is the dangerous bubble they were talking about.)
What a time to be a shorter! ;)
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This may be the case for most internet stocks. But I don't think it really applies so much to Apple. Their price/earnings ratio (about 27 at this time), while rising, is still no where near most other stocks. 27 basically implies a return of about 3% (assuming stable earnings - never a good assumption of course; in Apple's case, earnings are still rising). This is far better than most other investments at this time. So I wouldn't say Apple is in a bubble.
Amazon's P/E ratio by contrast is 127.
Not a monopoly (Score:1)
Money Printer Go Brrr (Score:1)