Apple is now worth 1.5 trillion dollars:
[On Wednesday, June 10], Apple became the first US company to achieve a $1.5 trillion market capitalization. The stock surged even as investors began pulling back in many other areas of the economy.
Reasons given by investors for the optimism include anticipation of the launch of a 5G iPhone this fall, signs of strong App Store sales, and interest in the potential of ARM-driven Macs, based on a Bloomberg report yesterday that said Apple may announce an ARM transition at its annual developer conference later this month.
Yesterday and today, Apple's movement ran counter to most of the rest of the market, where investors' actions have reflected fear of a global coronavirus resurgence and anticipation of bad news from the US Federal Reserve in a report due out today.
Market capitalization essentially means the total number of shares of a company being traded multiplied by the current trading value of a share in that company, making it the best publicly available measure of the company's actual value.
AAPL was at $338.40 per share as of June 13 which gave it a total market capitalization of $1.47 trillion.
(Score: 2) by darkfeline on Sunday June 14 2020, @11:32PM (1 child)
Now is a good time to remember that the stock market doesn't reflect reality at all. You might think that the value of a stock is what an average person thinks the stock is worth, but it is actually what the average person thinks the average person thinks the stock is worth.
What's happening right now in the stock market is a game of chicken. Everyone is waiting for everyone else to sell out. So long as everyone else is waiting and the stocks are climbing, you can keep waiting to sell for a higher payout. The moment a significant number of people call chicken, everyone is going to rush to sell and the stock price will drop like a flying pig, with whoever sells last left holding the entrails.
Join the SDF Public Access UNIX System today!
(Score: 0) by Anonymous Coward on Monday June 15 2020, @12:29AM
Not sure about that - the customers for shares are absolutely filthy rich with cash flowing in thanks to low tax and gutting of public leverage.
Why would they want more assets in cash?