Just In
- 4 hrs ago OPPO Find X7 Ultra Camera Deep-Dive: Pushing the Boundaries of Photography on a Smartphone
- 6 hrs ago iQOO Z9 Turbo Launched in China: Snapdragon 8s Gen 3, 16GB RAM, and More
- 6 hrs ago iQOO Z9, Z9x Launched in China: 6000mAh Battery, iQOO 12 Inspired Design, 50MP Camera, & More
- 7 hrs ago HMD Branded First Set of Android Smartphones Are Here!
Don't Miss
- Sports Who Won Yesterday's IPL Match 40? DC vs GT, IPL 2024 on April 24: Delhi Capitals Clinch High-Scoring Thriller At Kotla
- Education JEE Main 2024 Result Out on jeemain.nta.ac.in, 23 Students Secured 1st Rank With 100 Percentile
- News Mangalsutra Row: Did Indira Gandhi Donate Gold During The 1962 War? The Facts Behind Priyanka's Claim
- Movies Kota Factory 3 OTT Release Date, Platform: When Will Jitendra Kumar's Web Series Premiere On Netflix?
- Lifestyle Backless Dress: 7 Tips For Choosing Perfect Bra For Backless Outfits And Turn Heads Wherever You Go
- Travel Escape to Kalimpong, Gangtok, and Darjeeling with IRCTC's Tour Package; Check Itinerary
- Finance DCB Bank Q4 Results: PAT Grew 9% To Rs 156 Cr, NII Jumps 4.5%; Dividend Declared
- Automobiles Aston Martin Vantage Launched In India At Rs 3.99 Crore
Apple Becomes $720 Billion Company: World's Most Valued Company Ever
Activist investor and major Apple Inc shareholder Carl Icahn recently quoted that the iPhone maker's stock should be trading at $216, far above its record high of $124.92 hit on Wednesday.
At $216 per share, Apple already the world's most valuable company would be worth about $1.3 trillion, or about the size of South Korea's gross domestic product.
The company is valued at just over $700 billion currently. Icahn said Apple should be trading at 20 times earnings per share, which taken together with net cash of $22 per share works out to $216 per share. "It's surreal to think that the same company that was roughly 90 days from going bankrupt back in 1997, is now considered the most valuable company in the world."
Click Here For The Latest Smartphone Gallery
Apple's shares have grown 48% since the start of 2014. Tim Cook was recently interviewed over this new broken record, and to his satisfaction he's also added how much the Chinese market has contributed to this growth.
"This is why we continue to own approximately 53 million shares worth $6.5 billion, and why we have not sold a single share," Icahn said in a letter to his Twitter followers.
Recommended Link: 10 Essential Tech Gadgets for Travellers
In October that Apple shares could double in value and urged the board to buy back more shares using its cash pile. At the time, the shares were trading at $100. Apple had cash reserves of about $178 billion as of December 27, enough to buy IBM or the equivalent of $556 for every American.
Apple said last April it would return more than $130 billion to shareholders by the end of 2015. According to StarMine's intrinsic valuation model, Apple should be trading at $140.90. That implies a compounded annual earnings growth rate of 9.9 percent over the next 10 years.
Recommended Link: Top 10 Cheapest 2GB RAM Smartphones Available in India
Apple shares closed 2.3% higher at $124.88 on the Nasdaq on Wednesday. Up to Tuesday's close, the stock had gained more than 22% since October 9.
-
99,999
-
1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
79,900
-
1,39,900
-
1,29,900
-
65,900
-
1,56,900
-
1,30,990
-
76,990
-
16,499
-
30,700
-
12,999
-
11,999
-
16,026
-
14,248
-
14,466
-
26,634
-
18,800
-
62,425
-
1,15,909
-
93,635
-
75,804