When Apple CEO Tim Cook sits around the Thanksgiving dinner table on Thursday and some lame relative asks what he’s thankful for this year, he won’t have to dig too deep to come up with an answer. Already the world’s largest company by market capitalization, Apple stock traded as high as $119.75 today, giving the company a valuation of $703 billion, which is higher than any other US company has ever been. Apple stock is up 47% this year alone.
To give you some frame of reference, Exxon Mobil Corp., is valued at $401 billion, lagging Apple by some $300 billion. Microsoft’s market capitalization is $391 billion, and Google’s is $370 billion. Apple’s valuation surpassed that of both technology giants in 2010.
Analysts are crediting CEO Tim Cook for his leadership, and the introduction of the hugely popular larger screen iPhones this year, along with a lighter, faster iPad.
For all the scoop on who the big winners are and who’s selling Apple stock, check out this Bloomberg article, titled Apple tops $700 billion valuation, fueled by new products.
And if you’re like me, still loving the Apple stuff, you might think about picking up some stock yourself. Activist investor Carl Icahn, thinks Apple shares have room to run yet. He says the stock is undervalued at current levels, and is actually worth $203., making the company worth $1.2 trillion.
Happy Thanksgiving Tim Cook!