David Goldman reports for CNNMoney:
“Apple’s stock market value topped the $500 billion mark in early trading Wednesday, another record high for what was already the world’s most valuable company,”
“The half-trillion dollar valuation puts Apple in some extremely exclusive territory, making it one of the five most-valuable companies at any point in history,”
“Only Microsoft, ExxonMobil, Cisco and General Electric have ever surpassed that mark.”
“Exxon did it most recently in late 2007, when oil prices were soaring. Microsoft, Cisco and GE reached half a trillion dollars in market capitalization in 1999 during the height of the tech bubble. Microsoft was the only company ever to have a valuation of $600 billion.”
“Apple’s valuation is now higher than the gross domestic product of Poland, Belgium, Sweden, Saudi Arabia, or Taiwan,”
“The tech giant’s stock trades at less than 13 times its expected earnings for 2012. That makes it cheaper than the tech-heavy Nasdaq 100, which trades at about 18 times forecast earnings. And Apple is wildly cheaper than some of the other tech companies out there with far less predictable futures, like Netflix (NFLX), Zynga (ZNGA), LinkedIn (LNKD) and the soon-to-be public Facebook.”
Full article here.