Apple Inc. (NASDAQ: AAPL) may have been hitting new all-time highs ahead of next week’s quarterly earnings report and its price target from analysts may have crept higher as well. There is a new milestone, one which very few outfits have ever achieved even going back to the days of excessive valuations and the bubble days. Apple has now hit the $400 billion mark as far as its market capitalization rate. Apple’s new all-time high as of this morning was $$431.32 amd the $429.50 price today currently generates a market capitalization rate of close to $399.5 billion. The consensus price target (mean target) from Thomson Reuters is listed today as being $511.68. If that $511+ price target objective is ever hit (or when it is hit for the bulls) then Apple will have an implied market cap of $476 billion. NOt many companies have achieved this and it is important to realize that later this year Apple will have over $100 billion in cash on hand if it does not conduct a large dividend, share buyback, nor make a large acquisition.
Apple Mega-Cap Milestone… $400 Billion Valuation (AAPL)
By
Jon C. Ogg
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About the Author
Jon C. Ogg →
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
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