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AAPL is now world’s largest market cap!
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chiefthinker
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Just announced on CNBC AAPL has passed Exxon!
[ Edited: 09 August 2011 02:45 PM by chiefthinker ] -
The little fruit company that flirted with total disaster only 15 years ago has come a long way.
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It was fleeting—as I post this, XOM is back on top, though not by much—less than 2%.
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Not really important, but fun to watch. Just like the AAPL vs MSFT deal, it was a question of when, not if. I didn’t know XOM had fallen that far. Weren’t they at $400+ billion market cap earlier this year?
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Passing Gas? ExcUUUUUUse Me!
Sorry! The past 2 days have been too much to take without some bad humor!
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@Drew Bear:
From Yahoo Finance, it looks like the peak closing price for XOM in the last year or so was $87.98 on April 29. If the number of shares were the same as now, that would be a market cap of $433B, using a simple ratio form today’s numbers.
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Alot of news stories about this today, and also some stories covering the samsung injunction. A nice combo that could see AAPL pop even more tomorrow.
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Full Disclosure:
- Long Apple
- Pro: Apple HDTV, iPhone Air, Stock split, Consumer robotics -
AAPL and XOM may yet exchange the market cap lead a few times before AAPL, presumably, passes XOM for real.
Of course, there are many who would completely discount the idea of “growth” (probably just because it’s Apple the Toymaker) when arguing against AAPL’s valuation, which is still so damn cheap, whether valuation still has meaning to you or not.
But let’s have that conversation again 2 years from now. Is there a chance that by then, Apple ($23.6B ttm profit) will then be outprofiting Exxon ($37.9B ttm) on a net income basis, never mind silly things like profit margin)? I’d say so. And by then, Apple will probably be the most profitable company in the world.
[ Edited: 09 August 2011 11:18 PM by Mav ]Signature
The Summer of AAPL is here. Enjoy it (responsibly) while it lasts.
AFB Night Owl Team™
Thanks, Steve. -
XOM was over $500B back in 2007: CHART
The same chart also shows that once AAPL passed MSFT, the pass was quite definitive. If XOM stalls and AAPL continues the predicted rise, we’ll have a definitive pass by end of this year.
Short-term, I believe it’s a neutral to positive catalyst. It gets attention through things like Cramer’s show (video)
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Pretend Cramer has the face and voice of your favorite business anchor (if you have one).
Focus on the analysis, and the analysis was 100% spot on.
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The Summer of AAPL is here. Enjoy it (responsibly) while it lasts.
AFB Night Owl Team™
Thanks, Steve. -
Pretend Cramer has the face and voice of your favorite business anchor (if you have one).
Focus on the analysis, and the analysis was 100% spot on.
Yes! Succinct and hitting all the major points. I was pleasantly surprised.
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You can knock him for his occasional schtick, but Cramer’s been right about Apple for the past few years. It’s not easy to make a case like he did in just over 2 minutes. Bravo!
