Wow, just a couple of weeks ago, I reported that Apple’s share price has soared past $500. At that time the share price was at $468, and had begun to soar past $470, $480, and $490. Following today’s release of invitations to the company’s March 7th event for iPad 3, Apple’s share price had closed the day up $9.65, or 1.84 percent, which made Apple’s market cap very close to $500 billion. Market cap is the value of a company.
To put that in perspective, the company that used to be the world’s valuable company (Exxon), was worth $411 billion as of Tuesday afternoon, or $90 billion less than Apple. Better yet, Apple is now worth as much Toyota, Volkswagen, Daimler, Honda, Ford, Nissan, and GM combined! The share price has been rising ever since they reported blowout earnings for the first fiscal quarter of 2012. In fact, just three months ago, Apple’s share price was nearly $200 less.
I’d also like to once again point out Google’s share price growth, but wait! It isn’t seeing a significant increase at all. In the past three months, GOOG has seen an increase of only 5%, while AAPL has seen an increase of 42%! If marketshare meant everything, why is GOOG struggling to see growth, while AAPL is seeing phenomenal growth?
Clearly, Apple’s doomed and is just a fad.