Logic says defying gravity can’t continue. Organizations reach a certain size, and growth has to slow, at least that’s what they used to teach in B-school. Apple is now the most valuable company in the Bay Area, leaving in the dust such titans as Hewlett-Packard, Cisco, Intel, and Google.
With the total value of its publicly traded stock at $224 billion [update: on Wednesday, April 21, 2010, the day after the earnings announcement, Apple is $235 billion], up 107 percent from a year ago, Apple now has a market capitalization greater than all but two companies in the United States, Exxon Mobil and Microsoft.But the talk has really gotten frothy when people start projecting a $1,000 price for a stock that closed at $259 today. One analyst was willing to be quoted on the $1,000: does he realize that Apple’s valuation would be close to one trillion dollars!?!
I’m going to head down to Gourmet Haus Staudt for a few cold ones.
*Movie quote: (Number Two: 'Dr. Evil, wouldn't it be easier to use your knowledge of the future to play the stock market? We could literally make trillions!') "Why make trillions when we could make... billions?" - Dr. Evil, Austin Powers: The Spy Who Shagged Me [okay, it was really funny in the movie]