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Apple (AAPL) got an early Christmas present, as its shares hit an all-time high on Thursday. The excitement over its much-anticipated tablet computer is growing, and word is a major launch event is planned for the device in January (keep an eye on San Francisco). Apple still hasn't admitted to the project, but that didn't manage to dampen speculation. Yair Reiner of Oppenheimer said in a note to investors this month that Apple could have a tablet out on the streets by the beginning of April. Brian Marshall, an analyst at Broadpoint AmTech, sees the product reaching shelves by the end of the first quarter. Marshall sees the stock continuing to push upward next year, as "people are coming back to the well."
Apple has resisted the recession fairly well, turning in a 47% surge in net income in its most recent quarter to $1.7 billion on revenue of $36.5 billion. Consumers were committed to Apple's new devices, continuing to buy up iPods and iTouches, despite market conditions.
Apple's market capitalization has shot past $182 billion, putting it ahead of competitors Dell (DELL) and Hewlett-Packard (HPQ) combined. Need another measure? Apple's market cap tops that of Google (GOOG), one of the top brands on the web, by 20%. Apple shares climbed nearly 1% in this morning's premarket trading.
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Reader Comments (Page 1 of 1)
12-28-2009 @ 11:12AM
Average White Boy said...
Somebody is drunk from Christmas eggnog. Apple's market cap doesn't top Google by 20%. More like the other way 'round. Google's market cap is about $197 billion, while Apple's is a paltry $190 billion or so. Meanwhile, Microsoft's market cap is taking a slow stroll away from both of them at a heady $275 billion despite its nearly collapsed mobile division and two years lost revenue on Vista. I continue to hear people talking about Microsoft's demise and Apple eventually passing Microsoft in market cap, but each month takes Microsoft further away from Apple's grasp. It appears Microsoft will continue to be the untouchable giant for some time to come.
12-28-2009 @ 11:14AM
Tom Johansmeyer said...
Latest market cap on GOOG is $151.4 billion: http://www.dailyfinance.com/quotes/google-inc/goog/nas.
That said, I agree with you entirely on MSFT continuing its ascent. A good year for AAPL (or, for that matter GOOG) won't put it anywhere near MSFT.