In the wake of announcing its March 7 event to mark the inevitable release of the iPad 3, Apple has joined a highly prestigious group of companies to reach a half-a-trillion-dollar valuation. This morning on Wall Street shares in the Cupertino company rose to $532.35, bringing its total value to $501bn. This marks a momentous day in the history of Apple.
Perhaps more astonishing than Apple’s current valuation is its growth. You may remember that a little while ago AAPL and Exxon Mobil were vying for the top spot in the S&P 500. Well, Apple is now worth $90 billion. Now numbers are just numbers, so to clarify, if you had $1 billion. you could spend $100,000 a day for the next 50 years, and you would still have half a billion dollars left over, I know right? Apple is still listed by most analysts as a “buy” rather than “overweight”, or even “hold” and is currently worth more than Microsoft, Intel and Cisco combined. Apple has reached the top, and the only way is up.
Apple numbers continue to blow my mind, but what about you? Got something to say? Post up in the comments, or head over to my Twitter @TiP_Stephen!