Apple Stock Heads into the Stratosphere, Doubles Next-Highest Stock

I hope you have some shares of Apple stock, because it just keeps going up. The stock closed over $133 on Monday, giving Apple a market capitalization of $775 billion. That's more than double the market cap of Exxon Mobil, the next highest stock, at $346 billion. According to the Wall Street Journal, this doubling is a rare event, and the last time it happened was 30 years ago when IBM doubled up on Exxon. Earlier this month Apple was the first company in history to exceed $700 billion in market capitalization. Apple stock is up 19 percent in 2015. I hate to say it, but now might be a good time to sell. Everyone is bullish on Apple, and that's typically a good time to cash in. The time to buy is when everyone is dumping a stock, as happened with Apple during the crash in early 2009.

It's interesting that Apple has done so well, even though they always insist that they aren't concerned about short-term results. They repeatedly say their goal is simply to make products people love, and the rest will follow. They have, however, made very deliberate moves to appease Wall Street by giving dividends (something Steve Jobs had opposed) and by buying back their stock. These moves have helped to goose their stock to the current high levels. According to Above Avalon, Apple is on track to own 20 percent of their own shares by 2017. But certainly, their continued profitability and savvy moves into international markets have been a huge factor in the recent rise in their stock price. 

Top image credity: Velli Sky / Shutterstock.com

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Jim Karpen's picture

Author Details

Jim Karpen

Jim Karpen holds a Ph.D. in literature and writing, and has a love of gizmos. His doctoral dissertation focused on the revolutionary consequences of digital technologies and anticipated some of the developments taking place in the industry today. Jim has been writing about the Internet and technology since 1994 and has been using Apple's visionary products for decades.