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08-22-2012, 05:26 PM   #1
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Apple Becomes the Most Valuable Public Company Ever, With an Asterisk

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Apple, a company that nearly filed for bankruptcy just 16 years ago, passed a very different sort of milestone on Monday, when a bump in its share price made it the most highly valued public company ever.

Apple already boasted the largest market value of any public company, a title it has held since toppling Exxon Mobil from that spot. But Microsoft still held onto the record for the biggest market capitalization ever, $616.34 billion, which it set at the close of trading on Dec. 27, 1999, according to Howard Silverblatt, an analyst at S.& P. Dow Jones Indexes.

If Mr. Jobs were still alive, he could add up the values of Microsoft, Intel and Google and still have more than $13 billion of daylight between that figure and Apple’s market capitalization, which is a company’s stock price times its outstanding share count.

“It has been an absolutely remarkable transformation,” said Charlie Wolf, an analyst at Needham & Company.

Another analyst, Horace Dediu of Asymco, noted that Microsoft’s 1999 market value was still far higher than Apple’s when adjusted for inflation. The Microsoft of late 1999 would be worth $850 billion in today’s dollars. The Microsoft of August 2012 is worth $258 billion.

By Mr. Silverblatt’s calculations, Apple needs to close at $910 to beat Microsoft’s inflation-adjusted market value.
Apple Becomes the Most Valuable Public Company Ever, With an Asterisk - NYTimes.com

QuoteQuote:
Apple Inc
(NASDAQ: AAPL)
668.87 Up +12.81 +1.95%
AAPL - Stock Quote for Apple Inc - MSN Money

08-24-2012, 04:24 AM   #2
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I as an economist think that it is not correct to use nominal market value. The value (purchasing power) of a dollar today differs from the value of the dollar ten years ago or a century ago. The larger time span, the more substantial the difference in purchasing value of money. The fact that Apple has highest ever market value in nominal dollar terms does not mean that Apple is the most valuable public company ever.
I think that many trusts of the 19th century should be more valuable than Apple if the real value of inflation-adjusted value is used for comparisons. These trusts were real monopolies in their industries and had very strong monopoly power unlike Apple. And these trusts were public companies (listed in a stock exchange). For example, Standard Oil was a very prominent vertically integrated company. Some experts assess that this company could have been 1 trillion dollars worth in terms of current dollars.

Best regards,
Alberts
08-24-2012, 06:07 AM   #3
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Good for Apple, but honestly I don't care. The Cult of Apple has never particularly impressed me. Nor has it's products, sorry. I'm just not into anything made by them. Their stuff is expensive, proprietary and way over hyped IMHO. There is not one thing that they make that I'd stand in line for. It's a nice thing for them though considering their history...
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