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AAPL Stock: 102.99 ( + 0.52 )

Printed from http://www.macnn.com

Apple now worth more than HP

updated 02:05 pm EDT, Thu July 26, 2007

$127 billion market cap

Thanks to a major boost in share price after a rosy earnings report, Apple's worth as a public company is now higher than that of Hewlett-Packard and quickly closing in on other tech giants like Intel and IBM. With shares of AAPL hovering around $145, the company's market cap sits at about $127 billion, surpassing HP's $124 billion. Intel sits at around $141 billion and IBM at about$175 billion. AppleInsider reports on analyst consensus that Apple shares are poised to gain even further ground in the coming months, quoting AmTech analyst Shaw Wu who stated "We believe bears remain too pessimistic in underestimating Apple's profit potential and ability to generate strong cash flow. Moreover, bears have also underestimated bulls' ability to form more realistic expectations and focused too much on overzealous and sometimes outright irrational estimates."

Separately, Goldman Sachs has raised the price target on shares of Apple Inc. to $165 from $135. The firm believes major product releases (including new iMacs and full-screen iPods) will drive earnings and shares higher, and is maintaining a buy rating. During Apple's third-quarter earnings conference call, Apple CFO Peter Oppehnheimer mentioned a "product transition" on which he refused to elaborate that is also fueling speculation on the stock upside.




by MacNN Staff

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Comments

  1. climacs

    Joined: Dec 1969

    0

    what a ride

    nice time to be in AAPL...

  1. rjpotts

    Joined: Dec 1969

    0

    Event without

    their current earnings they were worth more than HP, figuratively speaking.

    HP is one of the most worthless companies I've ever had the displeasure of dealing with. They should have just stuck with printers and lab equipment, and stayed out of the services business.

  1. Guest

    Joined: Dec 1969

    0

    10years ago..

    And to think nearly 10 years ago it was nearly all over. LOL! Go Apple!

  1. climacs

    Joined: Dec 1969

    0

    I can never get enough

    of quoting Michael Dell, nearly exactly 10 years ago in Orlando he said:

    "What would I do? I'd shut it down and give the money back to the shareholders," Michael Dell said before a crowd of several thousand IT executives.

    as of this morning, Dell's market cap is $65 billion and Apple's is $128 billion...

  1. FastAMX79

    Joined: Dec 1969

    0

    congrats apple!!

    I've only been with Apple since the Apple //e but I'd like to say.. 'you've come a long way..baby'!

    Congratulations Apple! Maybe Steve Jobs should buy out Dell, shut it down, and give the money back to the shareholders...

  1. Drupa

    Joined: Dec 1969

    0

    Even WITH Apple TV!

    Glad to see that Apple is weathering the Apple TV failure without a hiccup. We don't hear much about this paperweight any more do we?

  1. Fast iBook

    Joined: Dec 1969

    0

    Yes.

    Buy out dell, gut it, sell off its holdings. :D

  1. Darwiniandude

    Joined: Dec 1969

    0

    Apple TV Useful!

    I want an Apple TV, it would be useful in my home. But here in Australia, I can't buy movies on iTunes. There is no iTunes movie store. Can Apple PLEASE make movies content available outside of the USA?!??!

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