It turns out that the new iPhone is so boring that investors have sent Apple’s stock to an all-time high today in after-hours trading, pushing the company over the $700 per share mark. The company’s new iPhone 5 broke sales records, moving 2 million units its first 24 hours on the market.
So. Much. Tech.
Some of the biggest names in tech are coming to TNW Conference in Amsterdam this May.
Where does this put Apple’s market cap? Over $656 billion dollars. Assuming that Apple opens tomorrow in normal trading at its current levels, the records will be codified for all investors. You’re having a good day, Apple owners. According to MacRumors, Apple is up $270 per share in the last 9 months, a hefty percentage gain.
For fun, where does this put in comparison to Microsoft? At this point, Apple is worth well over two full Microsoft’s, taking Redmond’s valuation as a unit of measure. The Redmond-based software giant is worth some $261 billion.
Is Apple’s market valuation bananas? Keep this in mind: the company’s price/earnings share is under 17. And according to Yahoo Finance, its PEG is under 1. Apple isn’t particularly richly valued. It’s just rich.