Apple Stock Smashes Previous All-Time High For Second Month Running

Discussion in 'MacRumors.com News Discussion' started by MacRumors, Mar 17, 2017.

  1. MacRumors macrumors bot

    MacRumors

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    Apple shares hit a record closing high in Nasdaq trading yesterday, reaching $140.69 to beat its previous all-time closing high of $140.46 set just two days ago.

    A new all-time intraday high of $141.02 was also set by AAPL on Thursday, eclipsing its previous record of $140.75, also set on March 15. Stocks re-opened today at $140.72 and remained steady around the $140 mark.

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    The figures cement Apple's position as the most valuable company by some margin, now with a market value of $738 billion. Google parent company Alphabet remains second largest with a market cap of around $592 billion, followed by Microsoft at just under $500 billion and Berkshire Hathaway at around $430 billion.

    Following Apple's first annual revenue decline since 2001, its stock has been steadily rising over the past five months, buoyed by record-breaking earnings results at the end of January. February 14 saw shares reach $136.27 in intraday trading, eclipsing a previous all-time intraday high set in April 2015, while Apple's market value surpassed $700 billion.

    Wall Street analysts have claimed for months now that Apple remains one of the world's most under appreciated stocks. Among a large group of Apple analysts, Brian White of Drexel Hamilton, Steven Milunovich of UBS, and former analyst turned venture capitalist Gene Munster have all predicted rises. Apple's relative strength line, which gauges the stock's performance versus the S&P 500 index, is at its highest level since September 2015.

    Some projections put Apple's stock price on a continual upward trend over 'iPhone 8' optimism, with several financial analysts raising their price targets for Apple's stock to between $150 and $185, according to research notes obtained by MacRumors.

    Article Link: Apple Stock Smashes Previous All-Time High For Second Month Running
     
  2. BMcCoy macrumors 65816

    BMcCoy

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    #2
    Incredible.

    Expectation for future growth and sales must be high. Amazing.
     
  3. Rocketman, Mar 17, 2017
    Last edited: Mar 17, 2017

    Rocketman macrumors 603

    Rocketman

    #3
    The many stock buy-backs have adjusted the market cap per share. I wonder if it also hit peak market cap?

    For those curious why the price is up, just look at the growth. Since P/E is typically growth + 8 one would expect a P/E of about 28. It is currently 17.
     
  4. plexdk macrumors 6502

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    #4
    Maybe they know something we don't know - except for the iPhone 8? :p
     
  5. Paul Dawkins Suspended

    Paul Dawkins

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    #5
    It's only incredible if Apple has anything to back this up with. If not then it will fall faster than you can blink.
     
  6. dannys1 macrumors 68000

    dannys1

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    #6
    Sack Tim, sack him now, it's tanking, ITS TANKING!!!
     
  7. Paul Dawkins Suspended

    Paul Dawkins

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    #7
    Do you bite your thumb at me, Sir?!
     
  8. Boatboy24 macrumors 6502a

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    #8
    Smashes? Really?
     
  9. Jsameds macrumors 68030

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    #9
    I love to see Apple doing well but in all honesty I do wish they weren't being rewarded for what has been a disappointing last couple of years, product wise.
     
  10. Chupa Chupa macrumors G5

    Chupa Chupa

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    #10
    You are sarcastic now but there will be hell to pay if Tim doesn't deliver the goods this year -- that is what this run up is based on. I say this both as an Apple fan and shareholder. I hope Tim isn't bluffing this time.
     
  11. meaning-matters macrumors 6502

    meaning-matters

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    #11
    For those that love rumors: A guy from San Francisco, saying he has connections inside Apple, told me at MWC that Apple would come out this year with great AR capabilities on this year's iPhone, to be soon followed by a new AR device.
     
  12. tejw macrumors newbie

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    #12
    Is the company now sufficiently wealthy to start paying tax at the same rate as the rest of us or will this obligation continue to be ignored in favour of spewing out ever more gaudy baubles?
     
  13. Radon87000 macrumors 68040

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    #13
    The market has already priced in the "groundbreaking" OLED iPhone edition into the share price. The only problem is that by the time supply stabilises for this phone we would be a few months away from iPhone 9
    --- Post Merged, Mar 17, 2017 ---
    No its just the iPhone Edition being hyped. Curved Edge OLED, no bezels, Wireless charging, iris scanner. This is the iPhone upgrade we have all been waiting for since 2013
     
  14. Cineplex macrumors 6502a

    Cineplex

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    #14
    Lesson here: Abandon core product, outsource R&D, use same unoriginal designs year after year, and get involved in transgender bathrooms......stock goes up. Proof that the stock market is a flawed system.
     
  15. Mr. Kevin Thai macrumors newbie

    Mr. Kevin Thai

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    #15
    Good job That's exactly how stocks work!
     
  16. Chupa Chupa macrumors G5

    Chupa Chupa

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    #16
    The rest of us? Half of America doesn't pay any income tax. Apple's effective tax rate is 25%, much higher than the majority of Americans and that doesn't even account for property tax, payroll tax, inventory tax, or the tax investors and other shareholders pay on quarterly dividends. The idea Apple doesn't pay taxes is another false Internet meme.
     
  17. Mr. Kevin Thai macrumors newbie

    Mr. Kevin Thai

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    #17
    Stocks are a speculation game. They're not being rewarded for what they did, they're being given confidence for what's in the possible future.
     
  18. Paul Dawkins Suspended

    Paul Dawkins

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    #18
    Thank you, but this is how stock SHOULD work, not how it currently works.
     
  19. tejw macrumors newbie

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    #19
    Was perhaps too inclusive with the use of 'us'. Here in Europe Apple is still prevaricating over the 13 billion euro payment required by the EU - https://www.theguardian.com/business/2016/aug/30/apple-pay-back-taxes-eu-ruling-ireland-state-aid
     
  20. Carnegie macrumors 6502

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    #20
    No, AAPL is still around $7 from its record market cap. That's assuming 5,246,540,000 shares outstanding, which was the number last reported by Apple (for January 20th). The number of shares may have come done a bit since then, but that would be the number that most would use until we get another one.
     
  21. Merackon macrumors member

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    #21
    I wish I was five years ahead in life to have the means to make some minor investments
     
  22. AppleFan360 macrumors 68020

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    #22
    Like it or not, Trump has opened the door for many companies to flourish but Tim would never give him credit for anything.
     
  23. Chupa Chupa macrumors G5

    Chupa Chupa

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    #23
    Right, but that is a legit beef. Apple had a deal with Ireland. Now it's up to the EU to decide if it that was too cute by half or permissible. We'll wait and see. But if the ruling goes against Ireland and Apple I'm sure Apple will pay up. They are not trying to cheat the system, just pay the lowest legal rate possible just like any other company or person. No one tries to pay more taxes than legally due. That would be insane.
     
  24. djcerla macrumors 65816

    djcerla

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    #24
    Stock market is indeed a flawed system, and that's exactly why AAPL is still ridicolously undervalued.
     
  25. HJM.NL macrumors 6502a

    HJM.NL

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    #25
    Nice... now some good new products for future growth :rolleyes:
     

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