Apple is truly an amazing company. Better yet, Apple’s reputation of being an amazing company is simply amazing. Regardless of how many things they can do wrong, i.e. Apple TV, Apple iPhone Antenna-Gate, Apple Mini, people still love Apple’s products. If Apple were to sell fecal matter that was branded with an Apple logo, people would no doubt line up days in advance for the opportunity to purchase the next piece of “the future.” Well today, Apple-mania reached a new level of insanity. Apple stock hit an all-time high of $330 per share, making it the second most valuable company in the world! Click below to read more about Apple’s historic day.
Think about this. Apple reached an all-time high in terms of its stock price today, January 3rd, 2011. The probably stellar Christmas season sales numbers haven’t even been announced yet. Neither has the much-anticipated Apple iPad 2. And lastly, let’s not forget that in the next few weeks, Apple will most likely be finally announcing a Verizon iPhone. The Verizon iPhone alone will most likely bring in millions of more iPhone sales per year and additional revenue from some sort of profit sharing on the required Verizon data plans. If the stock is at $330/share today, in two or three months, I don’t see why it can’t be at $500/share.
$500/share might seem like a lot to you, but let’s look at the current numbers. Apple has topped $300 billion in market capitalization. The only other company in the world to do that is Exxon. Apple has more than $50 billion worth of cash on hand!! Currently, they do not issue a dividend (though they may be forced to do so and or they might have to make some acquisitions, otherwise shareholder unrest will reach epic proportions since no company needs that much of a cash reserve). And to top this all off, Apple shows no signs of slowing down. You can go in an Apple store at 9pm on a Tuesday in the middle of a snow storm and find the place packed. Apple even has been rumored to possibly be creating its own television set, so that when it puts cable services and Blu-Ray discs out of businesses, you’ll have a new device to watch Apple’s cloud-based media service content on.
Do you think Apple shares will hit $500/share. $600 maybe?
Written By: The Sherwinator