Apple, Inc (NASDAQ:AAPL) just crossed a huge threshold. The world’s most valuable company is now worth more than $600 billion. The company crossed the $500 billion mark just one month ago. The new high shows the company’s incredible rise in recent years. The company’s shares were trading at $411 at the start of the year though today they were trading above $643 per share.
Jim Chanos At Invest For Kids: Short This Tech Company As Profits Slump
At this year's Invest For Kids conference, hedge fund manager Jim Chanos pitched a tech giant as his favorite short idea. Jim Chanos is a Wall Street legend. The president and founder of Kynikos Associates made his name shorting Enron in the 1990s. He has since identified some of the most profitable shorts in the Read More
The rise seems set to continue and almost at the same rate, expect articles about the company’s near and then actual breach of the $700 barrier in the near future, followed by a valuation of $700 billion. The company’s sales and market share a re increasing with no sign of real downside risks for investors, a prospect that other companies would salivate over.
Apple’s meteoric rise has some investors rattled as they wonder how long the company can maintain its dominance in consumer electronics. Despite the tentative vein of much media analysis in the past couple of months the financial analysts from the major banks have had nothing but optimism for the company’s prospects, expecting them to continue in their rise and, according to some, secure a price of $1000 dollars in the next twelve months.
Apple’s fundamentals are great and the only thing making investors wary is the massive growth in the stock and its massive growth which other large companies in the sector, or any other sector for that matter, pale in comparison to. Apart from the existential angst investors will be celebrating today as their capital continues to make grand returns.