Apple (AAPL) is Now a Half-Trillion Dollar Company
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Apple (Nasdaq: AAPL) crossed the $500 billion market cap level in after-hours trading action Tuesday.
With 932,370,000 shares of common stock issued and outstanding as of January 13, 2012, the magic number was $536.27 to breach the massive level. Shares last traded at $536.40.
Apple was already the most valuable company in the world and dwarfing number two Exxon Mobil (NYSE: XOM), now worth about $90 billion less than Apple. The two battled for the number one and two spots most of last year.
Apple shares are now up 32 percent since the start of the year and according to Wall Street analysts the run-up might not be done.
45 analysts rate shares of Apple at Buy, four rate the stock at Neutral and none at Sell, according to data at StreetInsider.com's Rating Insider. The average price target on Apple is $581.94, suggesting another 8.5 percent upside.
Helping Tuesday's nearly $10 price swing higher was news the company will unveil its iPad 3 on March 7th.
With 932,370,000 shares of common stock issued and outstanding as of January 13, 2012, the magic number was $536.27 to breach the massive level. Shares last traded at $536.40.
Apple was already the most valuable company in the world and dwarfing number two Exxon Mobil (NYSE: XOM), now worth about $90 billion less than Apple. The two battled for the number one and two spots most of last year.
Apple shares are now up 32 percent since the start of the year and according to Wall Street analysts the run-up might not be done.
45 analysts rate shares of Apple at Buy, four rate the stock at Neutral and none at Sell, according to data at StreetInsider.com's Rating Insider. The average price target on Apple is $581.94, suggesting another 8.5 percent upside.
Helping Tuesday's nearly $10 price swing higher was news the company will unveil its iPad 3 on March 7th.
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