I can understand if an Apple Shareholder is smiling like the Cleveland Indians Logo, since Apple’s market cap just hit $623 billion, making them the most valuable company in the United States, more valuable than ExxonMobil and larger than Microsoft, Intel and Facebook combined.
Not bad for a company that was about to go bankrupt in the the 90’s. If you can remember, because a series of major product flops, a 3-year record-low stock price and crippling financial losses, Apple also went bankrupt and went on a series of restructuring and extensive layoffs in the mid to late 90’s, that was before Steve Jobs return as the interim then became the permanent CEO of Apple. At the same time Apple received a $150 million investment from Microsoft which eventually helped the company back on its feet and return to profitability.
Expect Apple’s market cap to still grow this fall, which is when Apple is expected to announce the next generation iPhone, probably a refreshed iPod touch and the rumored iPad “mini”, and may be, just may be we can see Apple flirting to a $1 Trillion market cap!
Last modified: August 21, 2012