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Opening Bell: After $700B Will Apple's Upward Momentum Continue?

Published 11/26/2014, 08:23 AM
Updated 07/09/2023, 06:31 AM

At the close of yesterday’s US market, Apple’s market cap reached a record $700 billion, approximately $118 on the pre-market per share. It’s been more than a year since the company surpassed ExxonMobil’s valuation, which as of yesterday’s close was $401.3B, making Apple far and away the world's most valuable company.

According to Dow Jones, since its IPO at the end of December 1980, the company has had a remarkable rise, over 50,000%. Analyst Chris Kimble, says that given the current momentum on the stock, he believes the share price could go to $150, adding an additional, remarkable $175B to the company’s value. Petros Steriotis anticipates a moderate drop in the Apple share price over the next few days before new "all time high levels are targeted."

The doubts of Apple CEO Tim Cook's ability to advance the company after the death of Steve Jobs have been relatively put to rest. The release of the iPhone 6 and the build up to the iWatch and Apple Pay has investors salivating for Apple activity. As the Wall Street Journal notes, since Cook became CEO on Aug. 24, 2011, Apple’s market value has risen 100%. Check out the WSJ's list of 17 additional facts about Apple. (Did you know that since its IPO in December 1980, the valuation of the company has risen over 50,000%?)

Below is a graph of Apple stock over the past 18 months. The green indicator marks when Apple surpassed ExxonMobil's market cap on August 1, 2013 to become the largest global company by market valuation; The black indicator marks July 9, 2014 when Apple underwent a 7-to-1 split.

Apple stock activity over the past 18 months

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