Apple market cap hits $600 billion

Only one other company has hit that milestone before.

By Kim Peterson Apr 10, 2012 1:29PM

Image: Apple logo © BECK DIEFENBACH//ReutersUpdated: 4:12 p.m. ET

 

Apple (AAPL) became the world's most valuable company earlier this year, but that wasn't enough. The stock has surged ahead since then to hit another milestone.

The company's value hit $600 billion Tuesday. Only one other company has ever done that before. Microsoft (MSFT) reached a peak value of $619 billion during the heady days of the tech stock boom in 1999. Now, however, Microsoft is only worth $260 billion. (Microsoft owns and publishes Top Stocks, an MSN Money site.)

Apple was able to top $600 billion after seeing its shares climb to $644 Tuesday morning, The Associated Press reports.

Post continues below.

The stock closed at $629.13, placing the company's value around $580 billion. But it probably won't be long before it returns to the $600 billion mark.

General Electric (GE) almost hit $600 billion in 2000, but has since dropped to a market value of only $198 billion.

Apple is unique because it got to $600 billion so quickly. It only took 40 days to get from $400 billion to $500 billion, and then the next leap was even faster. It hit $500 billion on Feb. 29, and has ridden a wave of investor enthusiasm that shows no signs of slowing. Analysts keep ratcheting up their price targets on the stock, and one -- Brian White of Topeka Capital Markets -- thinks the stock will hit $1,001. On average, however, analysts have a price target of about $678.

Forbes said that for Apple to hit a trillion dollars in market value, its shares would have to rise to $1,073.

Microsoft still blows away Apple if you take inflation into account, by the way. That $619 billion peak for Microsoft becomes $846 billion, the AP reports. So Apple still has a ways to grow.

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13Comments
Apr 10, 2012 2:14PM
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"Apple market cap hit's $600 billion"    
WOOOO  HOOOO.  And the rest of the market did what?

Apr 10, 2012 3:55PM
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APPLE SOARS WHILE THE REST OF THE ECONOMY IS BUNCH OF SOUR GRAPES
Apr 10, 2012 3:12PM
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Wow, another big hooray for the top 1 percent!!  I can hear the cheers going up from that select fraternity, gloating about cheap, foreign labor.  Let's poll the average American, and get his take on this - especially the guys who lost jobs when Apple moved overseas!
Apr 10, 2012 5:15PM
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Who cares, especially when they won't share it. Sounds like bragging to me. I don't brag about what i have. What a joke and how sad it is.
Apr 10, 2012 5:05PM
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@someone, why does it have to always be about americans?  get it out your **** already.  no one is bitching about apple and not all people are buying iphones and ipads. 
Apr 10, 2012 4:57PM
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funny how people are suddenly bitching about apple, yet will still buy the iphones and ipads..americans, a bunch of hypocrites..
Apr 10, 2012 5:34PM
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Smile They are emotionally connected to their apple douche bags.
Apr 10, 2012 5:14PM
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I wish Apple & every other company that has moved it's manufacturing over-seas, the worst possible Karma. The Rich keep on getting Richer. While the Poor keep on getting poorer.

It would make sense for these huge companies to invest into the American people. Sooner than later, the American Middle-Class will not be able to afford Apple products.  "Brand-New" i-phones are already ridiculously expensive.

 When I went to look into purchasing one, It would have cost me $400 for the phone itself then $200-$300 for a deposit & other fee's. So I was looking at on the low-end $600 plus for an i-phone & Contract.

I went on Amazon & purchased a Black Jack Apple phone at auction for .18 cents then paid $5 S&H.  I hooked it up for $30 & have a bill of $60 monthly. I get Unlimited Long Distance, Internet, Pictures, & Texts. all for $60 a month.

 Such a deal if you ask me. Apple wanted all that money then wanted $150 monthly for not even the same amount of stuff I get for $60

 The day will come when people will not pay for the Apple name anymore. They are & will start using these cheaper stores that give you the same stuff.

My brother gave me his old i-phone, it cost me $60 monthly for the same services as Apple. Costs $30 to hook up & a monthly bill of $60 who wouldn't use these companies?

I will never be "Contracted" & I will never pay more than $100 for an i-phone ever. Use Metro Pcs. or another cheaper company. I use Unlimited Cell. & have for 5 years now & probably saved thousands of dollars.

Apr 10, 2012 5:40PM
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1- I would never own any apple product, overpriced products.
2- Most of their products are manufactured in Ch..., not good for local people.
3- Don't want to be 1 additional on the stupid list, using that phone while even shitting.
4- Fed up with trickle up economy but being treated as trickle down economy.
5- What is a phone for? I got 1 which cost me roughly $7/mo and hardly being abused.

Apr 11, 2012 12:29PM
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YOO HOO Apple made me a goooooooooooogleaire. I''m rich b yotches.....................................Smile
Apr 11, 2012 10:46AM
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This is completely corporate greed.. How bout a dividend?? How bout paying back your investors, for there "faith" in your company..

I'm still not sure what technical innovations this company has created.. They aren't visionaries.. like some think they are.. They didn't create the music player.. the cell phone.. the tablet.. and they certainly haven't perfected it.. Everything they do is over priced.. but exclusive.. so in some way it must be better?? Sheeple.. that's all I can figure.. So to all the I-diots.. have fun with your new i-garbage.. which in reality isn't any better than any of the other things that you believe that you are..

Apr 11, 2012 12:34PM
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Greed its the ameriKKKan way. Ask the reest of the Backward bastard worthless people in the world. They love you ameriKKKa. Stop your freakin snivelinSmile schmucks. Go get food stamps
Apr 10, 2012 5:17PM
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Now why isn't the CEO on MSNBCs website as an obscenely overpaid 1%er? Aplle is the absolute epitome of corporate greed.

Why wasn't Jobs ever featured on this hypocritical hit list?



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