as declared in Until recently, a $1 trillion valuation would have seemed inconceivable for any company, Cramer said. In March 2000, right around the peak of the dotcom bubble, Cisco's market cap reached $550 billion; the internet giant then proceeded to loose nearly three-quarters of its value over the next year. "The notion that any company could ever be worth more than a half-trillion was considered dangerous, foolhardy, seditious, maybe the sign of a pending crash." But once the $500 billion level was successfully breached, the market's tone changed, enabling juggernauts like Apple to surge toward $1 trillion. And, Cramer added, Apple managed to achieve a $1 trillion market cap — the first U.S. company to do so — without being "hideously expensive," trading at only 15 times next year's earnings estimates.
collected by :Molly Tony
Instant view: Apple hits $1 trillion stock market valuation
Apple is so different than the other tech stocks in the FAANG group... "My concern generally speaking is the FAANG stocks are just incredibly large relative to the rest of the market, and with a lot of passive money going into the S&P 500, ultimately a lot of money goes into those FAANG stocks by default. The more practical approach is just because something hits some sort of milestone it doesn't mean it needs to be purchased today. "If we can look beyond what's happening today politically and a group of investors says 'I'm buying into Apple,' that's a hugely positive sign." PETER TUZ, PRESIDENT OF CHASE INVESTMENT COUNSEL IN CHARLOTTESVILLE, VIRGINIA:"It's certainly a tremendous achievement to create a company with a $1 trillion market cap.Apple breaks stock market record by closing with market cap over $1 trillion
according to Earlier today, Apple's stock price briefly hit the magic number, which in this case was $207.05 per share. According to most estimates, that put Apple's market cap at over $1 trillion, making it the first US-listed company to break into the four-comma club. The stock formally closed at $207.43, giving the company a valuation just a fraction north of $1 trillion. Apple's stock has been buoyant ever since it released its fiscal Q3 earnings, which were mostly positive for the company. The services division also had a stellar quarter, as Apple Music reportedly took over Spotify to be the number-one streaming service in the world.collected by :Molly Tony
Comments
Post a Comment