Opening Bell: After $700B Will Apple's Upward Momentum Continue?
Investing.com | Nov 26, 2014 08:23AM ET
At the close of yesterday’s US market, Apple’s market cap reached a record $700 billion, approximately $118 on the pre-market per share. It’s been more than a year since the company surpassed ExxonMobil’s valuation, which as of yesterday’s close was $401.3B, making Apple far and away the world's most valuable company.
According to Dow Jones, since its IPO at the end of December 1980, the company has had a remarkable rise, over 50,000%. Analyst Chris Kimble, says that given the current momentum on the stock, he believes the share price could moderate drop in the Apple share price over the next few days before new "all time high levels are targeted."
The doubts of Apple CEO Tim Cook's ability to advance the company after the death of Steve Jobs have been relatively put to rest. The release of the iPhone 6 and the build up to the iWatch and Apple Pay has investors salivating for Apple activity. As the Wall Street Journal notes, since Cook became CEO on Aug. 24, 2011, Apple’s market value has risen 100%. Check out the WSJ's list of 17 additional facts about Apple. (Did you know that since its IPO in December 1980, the valuation of the company has risen over 50,000%?)
Below is a graph of Apple stock over the past 18 months. The green indicator marks when Apple surpassed ExxonMobil's market cap on August 1, 2013 to become the largest global company by market valuation; The black indicator marks July 9, 2014 when Apple underwent a 7-to-1 split.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.