News, info, and opinion by Mac users, for Mac users.

May 30, 2007

money

Apple hits market cap of $100 billion

Posted May. 30, ’07, 4:48 PM PT by Aaron Freedman
Category | Money

Aapl Graph 053007 Apple stock has, to say the very least, soared over the past 10 years. With a 40 times increase in share price, two stock splits, and more popularity with investors, Apple has performed amazingly well as a publicly-traded company. But, today, the stock set a new milestone in the area of market cap.

Today, Apple’s market cap reached an all-time high of $100 billion (though it was at $102.7 billion at the end of the trading day). Market cap, or market capitalization, is a measurement of a company’s worth on the stock market, and is calculated by multiplying the number of outstanding shares by the share price. Obviously, this is a huge milestone for Apple to reach, especially considering how pretty much no one expected the company to make it into the new millennium in the mid-90’s (read: Michael Dell). This isn’t the first time, though, Apple set a major market cap milestone. Back in January of last year, Apple’s market cap surpassed Dell’s for the first time ever, as stated by Steve Jobs in a letter to Apple employees.

So, as Steve Jobs said in that letter last year, “Stocks go up and down, and things may be different tomorrow, but I thought it was worth a moment of reflection today.” Indeed Steve, indeed.

DISCLAIMER: Aaron Freedman holds 10 shares of Apple stock (and possibly more through mutual funds, ETFs, etc.)


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