Apple (NASDAQ:AAPL) and Tech Giants are Top 5 in Value
$DIA, $SPY, $QQQ, $RUTX, $VXX, $AAPL
Thursday, Apple (NASDAQ:AAPL) became the 1st public company to exceed $1-T in market cap, just 2 days after reporting better-than-expected Quarterly earnings.
The personal technology giant is known for the iPhone smartphone, tablet and Macbook laptops, as well as software platforms used on the devices.
Apple shares rose 2.8% to as high as 207.05 on the day, bringing its gain to about 9% since Tuesday when its reported June-Quarter results above expectations and said it bought back $20-B of its shares.
Started in the garage of co-founder Steve Jobs in Y 1976, Apple has pushed its revenue beyond the economic outputs of Portugal, New Zealand and other countries.
Along the way, it has changed how consumers connect with one another and how businesses conduct daily commerce.
Apple’s stock market value is greater than the combined capitalization of Exxon Mobil (NYSE:XOM), Procter & Gamble (NYSE:PG) and AT&T (NYSE:T). It now accounts for 4 percent of the S&P 500.
The Silicon Valley stalwart’s stock has surged more than 50,000% since its Y 1980 IPO, dwarfing the S&P 500’s approximately 2,000% increase during the same almost 40 years.
One of 3 founders, Steve Jobs was driven out of Apple in the mid-1980’s, only to return a decade later and rescue the computer company from near bankruptcy.
Jobs launched the iPhone in Y 2007, dropping “Computer” from Apple’s name and super-charging the cellphone industry, catching Microsoft Corp (NASDAQ:MSFT, Intel Corp (NASDAQ:INTC), Samsung Electronics and Nokia off guard. That put Apple on a path to overtake Exxon Mobil in Y 2011 as the largest US company by market value.
During that time, Apple evolved from selling Mac personal computers to becoming an architect of the mobile revolution with a cult-like following.
Jobs died in Y 2011, he was succeeded as CEO by Tim Cook, who has 2X’d the company’s profits,but struggled to develop a new product to replicate the society-altering success of the iPhone, which has seen sales taper off in recent years.
Even with its $1,000,000,000,000 market cap, many analysts do not view Apple’s shares as expensive.
Shares of Apple this week traded at about 15X expected earnings, compared to Amazon at 82Xearnings and Microsoft at 25X earnings.
The others: Amazon.com, Alphabet, Microsoft and Facebook.
Thursday, the major US stock market indexes finished at: DJIA -7.66 at 25326.16, NAS Comp +95.40 at 7802.69, S&P 500 +13.86 at 2826.96
Volume: Trade on the NYSE came in at 768-M/shares exchanged
- NAS Comp +13.0% YTD
- Russell 2000 +9.6% YTD
- S&P 500 +5.8% YTD
- DJIA +2.5% YTD
HeffX-LTN’s Major US Stock Market Indexes Technical Analysis