Apple Inches Toward Yet Another Record ... Again

Apple (Nasdaq: AAPL  ) is just full of milestones these days. It seems the Cupertino Colossus spits one out every few weeks. Today's milestone: briefly topping $600 billion in market cap.

Thanks to its intraday high of more than $644 before pulling back a little, the Mac maker was able to cross that threshold shortly, hitting a new all-time high after hitting one just yesterday.

Let's quickly revisit some of the other notable events that the Mac maker saw over the past few months.

  • Jan. 19 -- $400 billion market cap.
  • Jan. 25 -- Record first quarter earnings: $46.33 billion in sales, $13 billion in net income, 37 million iPhones sold, and 15.4 million iPads sold.
  • Feb. 9 -- $500 share price.
  • Feb. 29 -- $500 billion market cap.
  • March 7 -- Third-generation iPad unveiled.
  • March 15 -- $600 share price.
  • March 21 -- 3 million third-generation iPads sold over launch weekend.
  • Today -- $600 billion market cap.

That's a jam-packed quarter that would keep anyone busy. Apple shares have since begun to pull back and now sit in the red, along with just about everything else today. However, the company is on the verge of pushing into uncharted territory and topping longtime rival Microsoft's (Nasdaq: MSFT  ) record market cap of $619 billion in December 1999.

The difference is that Microsoft's record was at the height of the tech bubble and shares traded as high as nearly 73 times earnings at the time, compared with Apple's current P/E of just 18. That's a big discrepancy in valuation, and it shows that Apple's recent run is certainly more justified than Microsoft's was more than 12 years ago.

Apple doesn't look as if it will be passing the market crown back to ExxonMobil (NYSE: XOM  ) anytime soon, as the oil giant's market cap now trails at $395 billion. Main mobile rival Google (Nasdaq: GOOG  ) can't compete in this race, either, with its $205 billion market cap.

There doesn't seem to be an end in sight, as Street analysts now have price targets as high as $910, $960, or $1,001, among others.

Are there still any trillion-dollar skeptics out there?

Even if there are still some who doubt that Apple will reach a trillion-dollar market cap, have no doubt that the mobile revolution will easily reach a trillion dollars. Don't miss this report that names a company that's counting on it. It's free.

Fool contributor Evan Niu owns shares of Apple, but he holds no other position in any company mentioned. Check out his holdings and a short bio. The Motley Fool owns shares of Apple, Google, and Microsoft. Motley Fool newsletter services have recommended buying shares of Google, Microsoft, ExxonMobil, and Apple and creating bull call spread positions in Microsoft and Apple. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.


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Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On April 10, 2012, at 10:58 PM, applefan1 wrote:

    So, what is Apple going to do this quarter in terms of product announcements?

    Laptops, Desktops?

    How about next quarter?

    OS Update

    More Laptops, Desktops?

    Last quarter?

    iPhone 5

    iPod

    iOS 6

    Any updates to software like iWork, iLife?

    Apple TVs?

    Some other surprises?

    What companies are they planning on purchasing for the next year? They have plenty of money.

  • Report this Comment On April 10, 2012, at 11:23 PM, funspirit wrote:

    for a bull/ bear analysis of Apple, rather than stock numbers, here is a column with Doug Kass presenting the bear view.

    http://www.richmakesyourich.com/2012/03/why-doug-kass-is-wro...

    Also, speaking of Google, have you seen the new Google Glass video. It looks pretty pretty cool, even if I wouldn't be the first adopter

  • Report this Comment On April 11, 2012, at 1:12 AM, 1984macman wrote:

    funspirit, you DO know that Google Glass is a pure fantasy, don't you?

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