Apple's Stock hits $500
Apple's stock hit $500 today in a massive blast of awesomeness. Since 2009, there has been a huge gain. The Macbook Pro re-designed, the 2011 Mac Mini and Macbook Air, the iPad 2 and the purchase of Siri with the iPhone 4S. Apple's new stock price (at the moment, $502.60 makes it great for all stockholders but also, notice that Apple's stock hasn't even caught up with it's profit margins. As CNN says, It was just six months ago that Apple cracked the $400 level for the first time, and it's been 16 months since it passed $300. Shares traded above $200 for the first time in October 2009. At this time three years ago, shares traded at just $78.20.
Despite Apple's stunning rise in share price, the company's stock gains haven't even kept pace with its earnings.
The stock has grown 40% over the past year, but Apple's profit has grown 117% since the fiscal first quarter of 2011. Over the past two years, Apple's stock has grown 150% and profits have soared 286%.
The stock has risen 539% in the past three years, but profits have grown 711% over the same time period.
That means Apple's shares are relatively cheap.
Well, I don't care what CNN says about Apple's stock being cheap and such. This is still a HUGE landmark for Apple, Inc.
By Calvin Spangler Young
Apple Geek/fan, iKnow it all, homeschooled nerd, and guru for any thing with the prefix of a lowercase i.