Today in Apple history: Apple stock smashes through $700 barrier

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bull Wall Street
Like a bull in an ... Apple store?
Photo: Sam Valadi/Flickr CC

September 17: Today in Apple history: Apple stock smashes through $700 a share September 17, 2012: On the back of record iPhone 5 preorders of 2 million in 24 hours, Apple’s stock price hits a new all-time high. For the first time in history, AAPL breaks the $700 mark in after-hours trading. Passing the milestone cements Cupertino’s place as the world’s most valuable publicly traded company.

Amazingly, the new record is $270 a share higher than Apple at the start of the year. The stock rose 65% in just nine months.

Today in Apple history: Apple steals a financial record from Microsoft

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Tim Cook earnings apple
Yet another financial milestone.
Photo: Ste Smith/Cult of Mac

Aug 20: Today in Apple history: Apple passes Microsoft as most valuable publicly traded stock ever August 20, 2012: Apple passes a financial milestone as it becomes the most valuable publicly traded stock ever.

The company it bests to attain this record? Longtime rival Microsoft, which peaked on December 30, 1999. Apple’s surge to the top spot serves as a reminder of just how radically the fortunes of both companies changed over the years.

Apple becomes world’s most profitable company

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International governments plan to rethink tax rules for the ‘digital age’
Apple earned more profits than any other company in the world.
Photo: Pixabay/Pexels CC

Apple made more money in the last year than any other company in the world, according to the new Fortune 500 rankings. With annual profits of $57.5 billion, no other enterprise came particularly close, with the nearest rival earning about $8 billion less.

This goes a long way toward explaining why Apple remains the most valuable publicly-traded company in the world.

Warren Buffett’s premature Apple selloff cost his firm $20 billion

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Buffett
Warren Buffet is Apple's biggest investor.
Photo: CNBC

Warren Buffett is one of the greatest financial masterminds of our time. But he’s not infallible. Sometimes even Warren makes mistakes — and one of those recent mistakes was called Apple.

Buffett’s Berkshire Hathaway firm has long invested in Apple, with Buffett once saying that, “I don’t think of Apple as a stock. I think of it as our third business. It’s probably the best business I know in the world. And that is a bigger commitment than we have in any business except insurance and the railroad.”

Apple has done extremely well for Buffett. The company’s stake in Apple has tripled in value in the past three years. On Wednesday, as Apple closed at a new all-time high, it was worth $128 billion. It accounts for more than 40% of Berkshire’s US portfolio, while Berkshire is Apple’s second larger shareholder (after index fund giant Vanguard.) However, Buffett has also been pruning his Apple stake. And it’s cost him.

Apple stock jumps nearly 2% to snap its losing streak [Updated]

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Apple.logo.paris.store
Do I understand it? Nope.
Photo: Josh Davidson for Cult of Mac

Apple is the world’s most valuable public company, days from unveiling new software and hardware at WWDC, in the middle of its hottest iPhone cycle in years, and having just debuted its biggest iMac redesign in years. So all is good, then?

Well, apparently not. In fact, a report Friday notes that Apple stock is currently on track for its longest weekly losing streak in more than two-and-a-half years. Because the stock market works in mysterious ways.

Update: AAPL closed at $125.89 Friday, up $2.35 (or 1.9%). So much for the losing streak.

Snap up some cheap AAPL stock while it’s tanking

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AAPL shares took a nosedive on Tuesday
Apple’s stock price went down quite a bit.Perhaps now’s the time to buy
Photo: Cult of Mac

Apple shares spent much of Tuesday down 4% in value. The AAPL selloff was part part of a general drop in tech stocks amidst fears of a rise in interest rates.

At one point during the day, the value of each AAPL stock had dropped about $5.30. That’s a decrease of roughly $88 billion in Apple’s $2.1 trillion market capitalization.

Update: Apple shares finished the day down 3.54%.

Apple still the biggest tech giant, but it’s Big Tech’s worst performer of 2021 so far

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Apple.logo.paris.store
The stock market is kinda weird.
Photo: Josh Davidson for Cult of Mac

Apple’s market cap has climbed more than $13 billion this year alone, equal to the company’s entire net worth in mid-2004. But that’s still enough to make it an underperformer next to its tech titan peers.

In a Wednesday report, the Wall Street Journal notes that Apple has risen 1.3% in 2021 so far. That’s compared to an average of 16% for Microsoft, Amazon, Facebook, and Google parent company Alphabet. It’s also way less than the 81% Apple soared in 2020.

Today in Apple history: Apple market cap breezes by Walmart

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Apple could be a $2 trillion company by end of 2021
At this point, a $200 billion market cap seems almost quaint for Apple.
Photo illustration: Ste Smith/Cult of Mac

March 12: Today in Apple history: Apple overtakes Walmart in value March 12, 2010: Apple passes Walmart and investment firm Berkshire Hathaway in value to take third place in market capitalization among publicly listed U.S. companies.

Apple’s valuation roars past $200 billion as a result of intense excitement over the first-generation iPad. Things look good for the company as it guns for powerhouses ExxonMobil and Microsoft.

How to attend Apple’s 2021 virtual shareholders meeting

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The Apple 2021 Annual Meeting of Shareholders will be held February 23.
The Apple 2021 Annual Meeting of Shareholders is this week. Here’s how you can take part.
Graphic: Cult of Mac

Apple’s annual shareholders meeting won’t take place on the Apple Park campus this year as it ordinarily would. With the COVID-19 pandemic dragging on, it’ll be a virtual-only event in 2021. This is likely to increase participation in the February 23 meeting. And if you own AAPL shares, you can attend.

Here’s what you need to do.