accadacca
08-02-2018, 09:20 AM
Haters gonna hate. These number don’t lie...
https://uploads.tapatalk-cdn.com/20180802/44e9e13671ea3e09616fa5fc2ee25d2d.jpeg
Apple, which already held the crown as the most-valuable company on earth, made Wall Street history Thursday when it became the first publicly traded corporation to reach a market value of $1 trillion.
Apple, whose stock*is owned by investors ranging from billionaire Warren Buffett to mutual fund giant*Vanguard to millions of working Americans through funds owned in*their 401(k)s, passed the milestone after reporting another quarter of stellar profits after the market close Tuesday, highlighted by a jump in revenue to $53.3 billion and the sale of 41.3 million iPhones.
The iPhone maker broke the $1 trillion barrier when its stock briefly hit the magic share price of $207.05 around noon ET, according to Nanex, which supplies market data to the financial industry.
“Apple has gone where no company has gone before,” says Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.
The individual company milestone follows an extraordinary stretch of tech innovation and arrives as the bull market for stocks, now more than nine years old, looks to overtake the 1990s bull as the longest in history later this month.
Heading into Thursday's trading session, Apple shares were up 19.1 percent so far in 2018, more than double the return of the broad S&P 500, which has gained 5.2 percent.
Apple’s rise has been driven largely by its wildly successful iPhone, which has been instrumental in shaping the mobile world we live in and is now a staple of daily life for tens of millions of Americans who use it to make calls, send texts, snap pictures, check Facebook and stay on top of the news.
Apple’s good fortune is also good news for Main Street investors. With a nearly 4 percent weighting, the stock is the biggest holding in the Standard & Poor’s 500 stock index, an investment that is owned by most individual investors through index funds and exchange traded funds that track it and in 401(k) plans.
“Apple’s gain boosts about every 401(k) since it is a big holding in just about every large-company mutual fund,” says Paul Hickey, co-founder of Bespoke Investment Group, a New York-based market research firm.
Given that the S&P 500 is weighted by market value, Apple, as the most valuable company in the index, has the biggest impact on the index's price moves.
It’s often said that when Apple goes, so goes the market.
"Apple truly is the apple of the market's eye," says Erik Davidson, chief investment officer at Wells Fargo Private Bank in Chicago.
Apple won the race to $1 trillion, edging out rivals, such as Amazon (whose market cap was $877 billion as of Tuesday's close, according to S&P Dow Jones Indices), Google parent Alphabet ($858 billion) and Microsoft ($817 billion), the other main contenders that were racing the iPhone and iPad maker to reach the milestone.
“This feat,” says Hickey, “is a reflection of just how strong a company Apple is.”
Wall Street pros say Apple's ability to grow so large has been driven by a confluence of factors, ranging from its global reach, the explosion in global smartphone demand, and the rise and proliferation of the Internet.
Apple also enjoyed a "first mover advantage," as it got ahead of the competition in the mobile phone space back in 2007 when it launched the first version of its iPhone.
"Apple has global market appeal and brand power," says Joe Quinlan, chief market strategist at U.S. Trust in New York. "With the iPhone, they've created market demand virtually out of thin air."
https://www.usatoday.com/story/money/2018/08/02/apple-first-stock-hit-1-trillion-market-value/877867002/
https://uploads.tapatalk-cdn.com/20180802/44e9e13671ea3e09616fa5fc2ee25d2d.jpeg
Apple, which already held the crown as the most-valuable company on earth, made Wall Street history Thursday when it became the first publicly traded corporation to reach a market value of $1 trillion.
Apple, whose stock*is owned by investors ranging from billionaire Warren Buffett to mutual fund giant*Vanguard to millions of working Americans through funds owned in*their 401(k)s, passed the milestone after reporting another quarter of stellar profits after the market close Tuesday, highlighted by a jump in revenue to $53.3 billion and the sale of 41.3 million iPhones.
The iPhone maker broke the $1 trillion barrier when its stock briefly hit the magic share price of $207.05 around noon ET, according to Nanex, which supplies market data to the financial industry.
“Apple has gone where no company has gone before,” says Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.
The individual company milestone follows an extraordinary stretch of tech innovation and arrives as the bull market for stocks, now more than nine years old, looks to overtake the 1990s bull as the longest in history later this month.
Heading into Thursday's trading session, Apple shares were up 19.1 percent so far in 2018, more than double the return of the broad S&P 500, which has gained 5.2 percent.
Apple’s rise has been driven largely by its wildly successful iPhone, which has been instrumental in shaping the mobile world we live in and is now a staple of daily life for tens of millions of Americans who use it to make calls, send texts, snap pictures, check Facebook and stay on top of the news.
Apple’s good fortune is also good news for Main Street investors. With a nearly 4 percent weighting, the stock is the biggest holding in the Standard & Poor’s 500 stock index, an investment that is owned by most individual investors through index funds and exchange traded funds that track it and in 401(k) plans.
“Apple’s gain boosts about every 401(k) since it is a big holding in just about every large-company mutual fund,” says Paul Hickey, co-founder of Bespoke Investment Group, a New York-based market research firm.
Given that the S&P 500 is weighted by market value, Apple, as the most valuable company in the index, has the biggest impact on the index's price moves.
It’s often said that when Apple goes, so goes the market.
"Apple truly is the apple of the market's eye," says Erik Davidson, chief investment officer at Wells Fargo Private Bank in Chicago.
Apple won the race to $1 trillion, edging out rivals, such as Amazon (whose market cap was $877 billion as of Tuesday's close, according to S&P Dow Jones Indices), Google parent Alphabet ($858 billion) and Microsoft ($817 billion), the other main contenders that were racing the iPhone and iPad maker to reach the milestone.
“This feat,” says Hickey, “is a reflection of just how strong a company Apple is.”
Wall Street pros say Apple's ability to grow so large has been driven by a confluence of factors, ranging from its global reach, the explosion in global smartphone demand, and the rise and proliferation of the Internet.
Apple also enjoyed a "first mover advantage," as it got ahead of the competition in the mobile phone space back in 2007 when it launched the first version of its iPhone.
"Apple has global market appeal and brand power," says Joe Quinlan, chief market strategist at U.S. Trust in New York. "With the iPhone, they've created market demand virtually out of thin air."
https://www.usatoday.com/story/money/2018/08/02/apple-first-stock-hit-1-trillion-market-value/877867002/