Apple’s market cap has been worth more for a while, but now even a single share of AAPL stock is worth more than Google’s, having reached that milestone today at 12:26PM EDT, as noted by Fortune’s Philip Elmer-Dewitt. Boom.
Apple’s stock price has continued to rise at an incredible rate for months, leading one analyst to predict that its shares will reach $1,000 by 2014, making it the world’s first trillion-dollar company.
It’s no secret that Apple’s stock has been flying higher than an eagle hopped up on Charlie Sheen’s cocaine stash. I’m no stock expert, but it doesn’t look like AAPL’s upward trend is going to stop any month soon, and it’s going to make investors a boat load of more money. Yesterday, I found out my friend had bought 94 shares of Apple stock back in 2004 for $21 a share. He’s held onto the shares this entire time too. Despite being jealous as hell at his good fortune, I’m also cheering on the stock to hit $1000 so he can cash in a big pay day and treat me to a fine dinner.
The latest Joy of Tech comic gets my jealous angst perfectly. Here’s the rest of it:
When asked today why it was going to begin paying out an ongoing quarterly dividend of $2.65 per share to stockholders, one reason Apple cited for the new plan was that it wanted to “generate income” for its investors, and consequently attract investors for whom a dividend was an investment necessity.
It got us thinking. Apple says it wants to generate income for its shareholders, but $2.65 per quarter per share is a pretty small amount. How much stock would you need to own to even earn minimum wage from dividend payments?
The answer might surprise you, and will surely put into perspective the size of the investments Apple is hoping to attract.
Confirming a press release from just ten minutes earlier, Apple CEO Tim Cook has confirmed that Cupertino will use its vast hoard of cash to initiate a quarterly dividend payment to current shareholders, as well as buy back almost $10 billion in stock to help avoid dilution of employee equity.
For the first time ever, Apple stock briefly touched, then dropped below, the price of $600 per share. Making that milestone even more impressive is the fact that AAPL just reached $500 per share for the first time a month ago.
Mark my words, Woz is right: Apple’s going to reach $1000 per share become the world’s first trillion dollar company.
[via MacRumors]
Apple CEO Tim Cook cashed in on $11.1 million worth of Apple stock today, according to a filing with The Securities and Exchange Commission. 20,178 of Cook’s shares were sold off through a series of 5 transactions at various individual stock prices ranging from $547-$551.
Not a bad pay day.
Did you know Cult of Mac has a brand new podcast? No lies! We’re calling it The CultCast, and it’s the best 30 minute conversation you’ll hear about Apple all week long.
And wouldn’t you know it, we just released episode two into the wild! Join Leander Kahney, Buster Heine, and me, Erfon Elijah, as we yay and nay our way though all the iPad 3 rumors you’ve been hearing; ponder how Apple’s stock price could make it to $1000 per share; and argue about whether AT&T should be allowed to throttle those of us with unlimited iPhone data plans.
Sound tasty? Well dig in my friend! You can subscribe to The CultCast right now in iTunes and listen to episode two on your way to work!
Apple’s stock price has soared to astronomical heights over the last 18 months. Yesterday Apple stock closed at another record high and the company become more valuable than the GDP of Poland. But how high can Apple’s stock keep climbing? Well according to Apple’s co-Founder, Steve Wozniak, Apple stock will continue to soar for quite sometime.
Some of Apple’s stock iPhone apps would work wonderfully on the iPad, such as Clock, Stocks, Weather, and Calculator. But the Cupertino company seems to have no plans to port these apps over to the larger device. After all, I’m sure if it did we’d already have them by now.
But thanks to a new utility for jailbroken iPads called Belfry, you can port them over yourself.
If you’re a photographer, designer or marketing type, chances are you’ve used Shutterstock‘s stock image service at some point — either to hawk your wares, or to grab inexpensive(ish) good-looking images for a project. And if you use the service frequently, things just became a little easier — thanks to Shutterstock’s new iPad app (as long as you have an iPad, of course; if you’re a photographer without an iPad, well, get one).
The Notification Center that ships with iOS 5 is nice, and by default it displays a stock ticker, weather, mail, and calendar entries. It all looks great and the eye candy it provides actually conceal some very useful tricks you can use to reach some of its hidden secrets. Today we’ll take a look at the stock ticker.
Apple seems inoculated against the economic virus besetting PC sales. Indeed, sales of iPhones and iPads make shares of the Cupertino, Calif. tech giant worth $520, a Goldman Sachs analyst told investors Wednesday.
Here’s an idea: let’s cut Apple in half. Sure, the company is the most profitable on the planet and grabs more headlines than the U.S. President. The trouble, according to some on Wall Street, is Apple isn’t acquiring and selling enough to earn financial wizards hefty commission checks.
Following the news that Apple has more cash on hand than the US government, it’s just been announced that Apple has surpassed ExxonMobil to become the world’s most valuable publicly traded company.
Apple’s reign didn’t last that long, as Business Insider is reporting that Exxon is now back on top.
BestBuy.com — a major Apple reseller — has now stopped shipping the current-generation of Apple’s ultraportable notebook as an upcoming refresh becomes ever more apparent.
If you’ve been keeping up with the iPhone 4S/5 speculation recently, any hopes you had that the device would be announced at Steve’s WWDC keynote on Monday will be well and truly crushed by now. But if a new device isn’t right around the corner, why is AT&T running out of the iPhone 4?
Apple’s stock is as good as gold, right? Perhaps, but that doesn’t mean that it’s value can’t be manipulated. Writing for Fortune, Philip Elmer-DeWitt makes a shocking accusation: Apple’s share price is being manipulated by a mysterious cabal who are “pinning” the stock below its strike price and no one seems to be doing anything about it.
Supplies of the first-generation iPad are now beginning to dwindle away as Apple sells off the last few units of its original tablet. Since the launch of the iPad 2, the original model has been sold at a discounted price through the clearance & refurbished sections of the Apple online store, and on Thursday the 16GB Wi-Fi model disappeared completely.
32GB and 64GB models of the Wi-Fi iPad are still available in the refurbished section, but there are only 3G models left in clearance.
Despite the launch of the iPad 2, it’s expected that the remaining iPad stock won’t stick around too long thanks to the generous reductions Apple has made to their price tags. The 16GB model was previously listed at $349 before it sold out – $150 below its original asking price – but the cheapest model now left is the refurbished 32GB Wi-Fi at $429.
So, if you’re not happy with a 4-week wait for the iPad 2, and you’re happy to settle for the first-generation device, you’d better get your order in quick before the device is no longer available from Apple.
[via Electronista]