$710 billion and counting

Daisuke Wakabayashi at The Wall Street Journal:

Apple’s shares rose 1.9% Tuesday to $122.02, giving it a stock-market value of $710.7 billion. The shares have risen 64% in the past year.

Market value is calculated by multiplying a company’s shares outstanding by its stock price. Since Apple’s initial public offering in December 1980, the company’s market value has risen more than 50,600%.

The company’s current value is nearly double each of the next three largest companies in the S&P 500 index. Exxon Mobil Corp. is second to Apple with a market cap of about $382 billion; Berkshire Hathaway Inc. is third at $370 billion; and Google Inc. is fourth at $363 billion, according to FactSet.

Doomed. 

Source: The Wall Street Journal