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AAPL Stock: 113.29 ( + 0.37 )

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Apple market cap tops $500 billion in Wednesday trading [U]

updated 02:20 pm EST, Wed February 29, 2012

Company cements position as world's most valuable

Apple's market capitalization has surpassed the $500 billion threshold in the course of Wednesday stock trading. In practice, the achievement mostly only cements Apple's position as the world's most valuable public corporation. In the past, just Microsoft, ExxonMobil, Cisco, and General Electric have ever cracked $500 billion.

Of these, Exxon is said to have been the most recent, reaching the target in late 2007. Microsoft is the only company to have ever hit $600 billion, but is now valued at roughly $267 billion. Apple eclipsed ExxonMobil on January 25th; the latter company is still second, valued at $410 billion.

[Update]: At market close, AAPL finished the day with a capitalization value of $505.75 billion and a per-share price of $542.44, up $7.03 or 1.31 percent for the day.




by MacNN Staff

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  1. climacs

    Joined: Dec 1969

    +12

    astounding

    just astounding... and in a down economy, too... not a bubble economy as was the case with Cisco and Microsoft when they surpassed $500B.

    Arne and Wrenchy... come out and plaaaaaaay

  1. climacs

    Joined: Dec 1969

    +13

    if

    Apple ever gets its act together and starts exploiting the huge pent-up demand in China... $1000B valuation is completely reasonable.

    When I retire to Italy thanks to my AAPL shares, I'm going to build a shrine to Apple and Jobs.

  1. brainiac

    Joined: Dec 1969

    -2

    China

    So, moderately high-end products (eg iPhone, iPad) sold in China where there may be a lot of people but the average annual income is very low (

  1. brainiac

    Joined: Dec 1969

    -1

    China

    So, moderately high-end products (eg iPhone, iPad) sold in China where there may be a lot of people but the average annual income is very low (less than $7K?) is going to double the valuation of Apple that is currently selling its product in most of the "rich" countries already where there is a lot of disposable income? There is a difference between the rural and urban populations and not everyone or even a majority can afford (or use) apple products.

    the other part of the post that got cut - fingers crossed

  1. climacs

    Joined: Dec 1969

    +2

    @brainiac

    I am well aware of the huge disparity between the wealthy and the rural poor in China.

    There is a market of around a couple hundred billions of Chinese who are literally rioting to get Apple products, and Apple has barely penetrated the market so far. There are only five Apple stores in China, the country could easily support dozens. Look at all the fake Apple stores that have popped up in China, even in a relatively poor city like Kunming.

    Cook and Apple need to get their China act together before the Chinese tire of waiting and/or someone comes in and steal's Apple's lunch.

  1. lkrupp

    Joined: Dec 1969

    +6

    Nice

    But... Android is WINNING! -sarcasm tag-

  1. brainiac

    Joined: Dec 1969

    +2

    @climacs

    WOW that is a neat trick! If the world population is about 7 billion, where are all of the "hundreds of billions" of Chinese people hiding? And last I heard, they were mostly rioting for human rights though there were a few hundred rioting for Apple products lately (but there is a thing called a gray market which could drive demand rather than purchasing for personal use). I may be interpreting the figures wrong but don't most people there earn less than $15K US with most people getting much less? And do you think Apple products will be getting the same margins in China?

    I am not saying that China is not an opportunity, just tone down the hyperbole and bandwagoning a bit.

  1. tfmeehan

    Joined: Dec 1969

    +6

    Michael Dell had it right...

    right action, just wrong company.

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