Apple shares cross 500-dollar barrier

Apple shares cross 500-dollar barrier

PanARMENIAN.Net - Shares of Apple crossed the 500-dollar barrier for the first time Monday, February 13 following a two-week gain sparked by record profits and revenues, M&C reported citing DPA.

The company's valuation of around 460 billion dollars make it worth more than the combined value of rivals Google and Microsoft.

But stock analysts say the company is still undervalued compared to the size of its earnings.

Apple has surpassed Exxon-Mobil as the most valuable company on US stock markets. The only companies ever to have crossed the 500-billion-dollar mark are Microsoft, Cisco, General Electric and Exxon-Mobil, which each briefly passed that threshold in stock run-ups over the last 15 years.

Apple's stock passed the 400 dollar level only four months ago and have risen over 40 per cent in the past year.

According to its latest earnings report, Apple made a record profit of 13 billion dollars in the fourth quarter of 2011, when it sold 37 million iPhones, 15 million iPads and 5 million Macs.

 Top stories
Zuckerberg talked about the coming virtual reality wave, which his company made a big bet on when it purchased headset maker Oculus Rift.
YouTube, eager to capture cord cutters with original content, is about to debut one show and three movies to the Red subscription service.
"It looks like Google continues to execute on mobile advertising," said Neil Doshi managing director of research at Mizuho Securities.
Some of the executives are departing under pressure and others decided on their own to leave the company, the person said.
Partner news