Apple Shares Soar: Push Market Cap Above $800 Billion For First Time

Tyler Durden's picture

Since the blackout period for buybacks ended after earnings last week, Apple shares have found a dip-buyer every day willing to lift the stock off its lows and close it at its highs... after a disappointing earnings call and outlook, the stock is up almost 7%, breaking above $150 and topping $800 Billion market cap for the first time ever...

Apple shares briefly surpassed a price of $153.44 a share, and with Apple's 5.214 billion shares outstanding, according to its latest quarterly report, that makes its total market capitalization just over $800 billion.

Today's 3% meltup is apparently because Warren Buffett also praised the company, calling the iPhone "a very, very, very valuable product."

Notably Apple's call options are the most-traded listed contracts in the US today...

  • ~64k May 12th $152.50 calls changed hands vs open interest of ~8.4k
  • ~44k May 12th $150 calls changed hands vs open interest of ~17k
  • ~40k May 12th $155 calls changed hands vs open interest of ~6k
  • Today’s total call volume is 2.4x the 20-day average

Buybacks bitches...?

Ands bear in mind that Apple issued $7 bn in debt last week - get back to work Mr. Cook!

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Phat Stax's picture

Probably the Swiss Central Bank.  I heard they own 5% of FaceBook.  There's no risk there at all.

BullyBearish's picture

wonder if they'll EVER sell...if and when they do, there will be a perot-sized sucking sound not to be believed...

Pure Evil's picture

Were still being inundated with the Cat 5 hurricane winds of jobs still heading to Mexico thanks to NAFTA.

PontifexMaximus's picture

No, they won't. Better to keep US equities than US gov scrap.

Panic Mode's picture

Just like Bitcoin.

FreeShitter's picture

Them there shitcoins are making me rich!

Muad'Grumps's picture

The spoils of modern day slavery. I wonder who made the suicide nets for Foxconn.

Pure Evil's picture

Are robots jumping from the tops of buildings because they're forced to work 24/7/365?

monoloco's picture

I wonder how Michael Blair and Reggie Middleton's shorts are doing?

 

Pure Evil's picture

Last I heard was that Reggies shorts needed changing due to all the skid marks.

But, when was the last time anyone has seen O'buthole and the Wookie together?

Ricki13th's picture

APPL buying their own stawks. But yet people still believe this is a free market. 

Juggernaut x2's picture

300 Blackout is the best blackout.

spastic_colon's picture

the first 5 lines of their last earnings report were all about shareholder "dividends" and repurchase agreements.......this is not news nor a mystery...........bitches.....also pls quit referencing the VIX charts without a corresppnding overlay of the index(es).....there unfortunately have been long periods of time when the VIX and index were highly correllated (i.e. went up together)

Pure Evil's picture

When was that?

Back on March 26, 2004?

Silver Savior's picture

In dollar collapse I trust!

Seasmoke's picture

Steve Jobs must be filthy rich by now.

Pure Evil's picture

Last I saw he was sharing a quaint cottage with Hitler on the ninth level of Hell.

Juggernaut x2's picture

Hitler is in Valhalla- not hell.

Consuelo's picture

 

 

I'm with >>>>>>>>>>>>>>> The SNB...!!!

BSHJ's picture

APPL is UP about 3% on the day because, well, for lack of a better reason....it is Monday?

finametrics's picture

AAPL is 4% of the SP500 and 12% of Nasdaq and in both cases, AAPL is the largest component by % weight. ETF holders are gorging on AAPL right now.

AAPL is also being bought with money created out of thin air by a publicly traded central bank, whos biggest holding is AAPL.

That is all.

 

syzygysus's picture

There is a serious correction in AAPL coming.  As an Apple fanboy for so many years, I still like their products...but they aren't really that unique or 'different' any more.  You can get just as good or even much better phones and their laptops and desktops are waaaay out of date.  They'll have to pull a big rabbit out of their hat soon, or out of Cook's ass.

RightEdge's picture

Unfortunately, I agree. Also a huge fan of their products since the 80s. They're too big to be truly innovative anymore and I doubt they will ever bring a new, radical product to market again without Jobs there to make it happen.

TheSilentMajority's picture

They are burning cash and sales are falling.

Sounds like SNB is printing and buying, and Apple buybacks to the rescue!

PontifexMaximus's picture

BTW, bigger than the GDP of switzerland now. Do not forget, currency reserves are around 700 bil.

Zepper's picture

When more than a 3rd of the market cap is held in 250 billion in cash, Apple is a safe bet anyway you look at it. The only thing that can derail Apple is someone leapfrogging them in technology.

 

For example, a next gen phone that has a 100$ foldable hi res screen that fits in the palm of your hand but can expand to 8 inch screens etc. And given the current CEO of apple fucking sucks at innovation I can believe it can happen with the right person at some tech company. And even then Apple is so dominant that people would wait for their offering even if its 3 years away. 

vegas's picture

To the moon Alice! Stock may never go lower again thank you Swiss National Bank. Where's my Cntrl-P button I can hit when I want?

 

www.traderzoogold.blogpsot.com

CHX13's picture

This is Mr. Jordan's wet dream... ...in other words, there's no BS like SNB... Before long Apple will be Swiss, aye ???

PontifexMaximus's picture

He will wear diapers in the future, I am sure about that.......but not for that you might think of

E.F. Mutton's picture

Shhhhh...don't tell anyone but CRAMER says SNAP is a buy!

I have a boner.

Pure Evil's picture

Don't tell Macaroni about it.

From yesterday's results he has a thing for sheep-le.

rejected's picture

An 800 billion dollar American in name only Chinese company with 80% of the money and all of the production jobs going to China. But you know, these college type morons that bitch they cannot find work all have their cheap $500 dollar Iphone and $900 dollar Ipad or equivalent purchased through the student loan giveaway funded by Americans also bitching they cannot find decent paying work while also buying their foreign Icrap, foreign cloths, foreign shoes, foreign jewelry, foreign coats, driving their foreign cars, and motorcycles,,, including those HD's running around with their American Flags made in America using Foreign thread.

I was thinking of buying a Lionel Train set as it states in bold letters "Made in USA",,, further down it states assembled in the US with foreign and American made parts. Like above, We can't even make a completely domestic toy train set.

MAGA,,,, Yeah, sure.

Your Good Friend's picture

Does apple even earn a profit?