Apple shares hit a new all-time high Friday on the back of the company’s shockingly good Q3 earnings. AAPL closed up 10.47% at $425.04, fueled by Thursday’s record-breaking report.
Friday’s surge gives Apple a market cap of an astonishing $1.84 trillion, within spitting distance of the once-unimaginable $2 trillion valuation. And it makes Apple the most valuable publicly traded company in the world.
Apple first crossed the $1 trillion milestone in 2018. It then dropped back to the $900 billion mark, before climbing from there. Its current high price comes at a time when financial markets are taking a turn for the worse, based on fears about a second wave of COVID-19.
By comparison, other tech stocks are doing well — but not Apple well. Amazon is valued at $1.597 trillion. Google parent company Alphabet is valued at $1 trillion after a dip following a disappointing quarter. Facebook is worth $721 billion. And Microsoft is at $1.53 trillion.
Apple said Thursday that it will do a 4-to-1 stock split. The last time Apple stock split was in 2014, when it split 7-to-1. At the time, Apple reached its technical highest valuation per share — with the cost of a single Apple share being $705. Had that stock split not taken place, those pre-split Apple shares would be worth more than $2,874.83.
Kind of makes you wish you’d invested in AAPL at the time, right? No wonder Warren Buffett’s Berkshire Hathaway company is so bullish on all things Apple.
Originally posted at 8:45 a.m. Pacific, this post was updated after the market closed Friday.