Apple market value hits $600 bn, nears Microsoft recordApril 10, 2012 - 21:49 AMT PanARMENIAN.Net - Apple, already the world's most valuable company, hit the $600 billion level for the first time Tuesday, April 10, AP reported. Only one other company has been worth $600 billion - Apple's old sparring partner Microsoft Corp. It reached that valuation for 13 trading days around the turn of the millennium, at the peak of the technology stock mania. At its highest level, on Dec. 30, 1999, Microsoft's valuation was $619 billion. It's now worth $260 billion. General Electric Co. came just short of reaching a $600 billion valuation in August 2000. Apple shares hit $644 in morning trading, up 1.2 percent from Monday's close. At that price, the entire company is worth $600.4 billion. By midday, the shares had retreated to $638.64, up 0.4 percent from the day before, putting the value below $600 billion again. Apple's stock is up 59 percent since the start of the year, an indication that investors are catching up to what analysts have been saying for a while: despite its enormous market capitalization, Apple's stock has been undervalued relative to its even more enormous profits. The rally has also been fueled by the report of another blow-out holiday quarter, and the announcement that Apple will start putting its $97.6 billion cash hoard to use this summer by paying a dividend and buying back shares. Apple's market capitalization hit $500 billion on Feb. 29. That, in itself, was a rare achievement: only five other US companies have ever been worth that much. Apple's market capitalization is still 41 percent below Microsoft's 1999 record if inflation is taken into account. The $619 billion then becomes $846 billion. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. |