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Apple Hits New Record North Of $600 Billion In Market Cap

Tyler Durden's picture


Update: in the 20 or so minutes since uploading this article, AAPL added another OpenTable in market cap. It has in the course of a day added the same market cap as Linked In and just shy of Sony.

Moments ago Apple, long since the largest company in the world by market cap, just crossed $600 billion in capitalization, needless to say a record high, after adding the equivalent of 2.4 RIMMs in market cap in a few short hours. As of this moment, the company that makes a phone, a tablet, various computers (all of which now have an upgrade lifecycle inside of 1 year and ever shorter), has a product "ecosystem", retail stores and may be launching a cable box, is larger than the entire semiconductor sector, larger than the entire retail index, and at this rate of parabolic blow off top growth, will be larger than both combined in about 5-6 months. We can only hope that the company will soon use its $110+ billion cash hoard to launch a captive bank to finance the purchase of its products because unless consumers' disposable incomes are growing at the same rate (with penetration already quite high), and assuming of course it is still cool to have an AAPL product in a few years (just as it was the peak of coolness to have a Palm Tungsten a decade ago... or a RIM phone 5 years ago), the company that is now owned by about 250 hedge funds will certainly have growing pains in the future.

Blue is Retail sector; Red is Semiconductor


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Fri, 08/17/2012 - 14:59 | 2714940 slaughterer
slaughterer's picture

DRIP reinvestment today.

Fri, 08/17/2012 - 15:00 | 2714942 redpill
redpill's picture

Every AAPL eventually falls from the tree.

Does Samsung make chainsaws? 

Fri, 08/17/2012 - 15:03 | 2714947 nope-1004
nope-1004's picture


Emotions are clearly pushing this stock now.


Fri, 08/17/2012 - 15:13 | 2714985 The Big Ching-aso
The Big Ching-aso's picture



Hope this doesn't become iFacebook.

Fri, 08/17/2012 - 15:36 | 2715052 AldousHuxley
AldousHuxley's picture

companies usually top out when they waste money on some new campus. apple's due 2015.


look at NFLX to see violatility of tech stocks....

Fri, 08/17/2012 - 15:50 | 2715089 SilverTree
SilverTree's picture

Someone whip out a chart of the AAPL to GOLD raito.

Fri, 08/17/2012 - 16:14 | 2715171 palmereldritch
palmereldritch's picture


Time for Apple to hedge that market cap and maybe start a competing currency or two....

Fri, 08/17/2012 - 20:55 | 2715860 tenpanhandle
tenpanhandle's picture

Buy AAPL because gold is in a bubble.

Fri, 08/17/2012 - 15:18 | 2714995 insanelysane
insanelysane's picture

Analysts are saying that people will go without eating out and new clothes in order to buy more iCrap.  If that's the case, then it is pricing in.

Fri, 08/17/2012 - 15:37 | 2715057 AldousHuxley
AldousHuxley's picture

that's nothign compared to money wasted on new cars......illegal mexicans drive around cadillac SUVs now.

Fri, 08/17/2012 - 17:54 | 2715508 neohuman
neohuman's picture

Every time i see those 22 inch shinny rims  I just shake my head.

Fri, 08/17/2012 - 20:05 | 2715803 monoloco
monoloco's picture

All the twenty-somethigs occupying moms couch these days need new shiny devices to keep up on their Facebook and play Angry Birds. Don't count Apple out, their devices are cheap entertainment for the unemployed. 

Sat, 08/18/2012 - 05:16 | 2716252 DavidC
DavidC's picture



Fri, 08/17/2012 - 15:22 | 2715009 mirac
mirac's picture

Burning APPLwood smells nice when burning and can be used in BBQ for flavor

Fri, 08/17/2012 - 16:00 | 2715133 poor fella
poor fella's picture

I've done apple-bacco in a hookah. Smooooooth.  Apple should use it to print shares on.

Fri, 08/17/2012 - 17:48 | 2715496 neohuman
neohuman's picture

Wasn't Nokia on that cool list 13 years ago?

Sat, 08/18/2012 - 16:16 | 2716998 Doublescythe
Doublescythe's picture

$120B in cash, almost $0 in debt, and generating about $1B in free cash flow every day. 

You do the math. This company is an asset class unto itself - multiples are far more compressed than anything else in the market - if Apple splits 10:1, look out - you'll see the stock price at an effective $1,000 share price.

The reason these companies win (Apple, Google, Amazon) is software and automation - everything else fails.


I continue to be long $AAPL. Good luck to all.

Sun, 08/19/2012 - 01:39 | 2717676 ToNYC
ToNYC's picture

Cheap phones call up the Law of Gravity, dropping a dime on the Emperor's new and oldriginal designs.

Fri, 08/17/2012 - 15:46 | 2715083 Freddie
Freddie's picture

Tylers - please have more banner ads with girls in T-shirt versus the Muslim and his Wookie 2012.  

Tell the t-shirt company to hire t-shirt girls with bigger breasts-es.  Ask them if they can make those banner ads 3-D.

Fri, 08/17/2012 - 15:50 | 2715088 LongSoupLine
LongSoupLine's picture


Fri, 08/17/2012 - 15:00 | 2714943 falak pema
falak pema's picture

when the Hf become mutual funds....stampede! 

Fri, 08/17/2012 - 15:02 | 2714950 Tinky
Tinky's picture


Fri, 08/17/2012 - 15:03 | 2714952 BLOTTO
BLOTTO's picture

At the rate AAPL is rising - it would bloody well need to own the fuckin entire WORLD for the stock to keep performing at this pace...

Is that likely?


Fri, 08/17/2012 - 15:31 | 2715037 johnQpublic
johnQpublic's picture


Fri, 08/17/2012 - 15:54 | 2715107 stickyfingers
stickyfingers's picture

NASA's checking for buyers on Mars.

Fri, 08/17/2012 - 18:20 | 2715585 smiler03
smiler03's picture

I was curious about $600 billion compared to the richest individuals.

According to the Forbes top ten list of billionaires 2012

The top ten amount to $395 billion.

So the one good thing I can see is that those rich bastards are mere ants compared to the crappy AAPL.


Fri, 08/17/2012 - 18:20 | 2715589 BurningFuld
BurningFuld's picture

What if there were something on the market better than an ipad? AND people actually knew about it?

Fri, 08/17/2012 - 15:07 | 2714962 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

A RIM phone was never cool.

Fri, 08/17/2012 - 15:49 | 2715086 Robot Traders Mom
Robot Traders Mom's picture

A RIM job was though.

Fri, 08/17/2012 - 20:59 | 2715869 tenpanhandle
tenpanhandle's picture

only on the receiving end, I am told.

Fri, 08/17/2012 - 15:08 | 2714965 DannyTX
DannyTX's picture
Article Dated 03-29-12----Apple closed that day at 609.86   Today it is making new highs as of now 647.    Consdider the following and tell me this makes the least bit of sense at all:   “When we look at our cash flow models, assuming Apple can maintain its current operating margins (a heroic assumption in the face of increased competition in the tablet market), to justify the current stock price, it appears to us that Apple will have to sell about $2.6 trillion worth of total products and services over the next ten years. Last year’s revenues (for the fiscal year ending 9/24/11) totaled $108 billion. If Apple’s margins shrink, it will have to sell a lot more. This level of Apple product sales will make up almost 1.5% of U.S. GDP (of course it also sells products outside of the U.S.). That means that with the average GDP per capita in the United States being around $50,000, each person must spend $750 on Apple products and services annually (since 30% of sales are domestic, this means that about $225 per U.S. citizen would go to Apple every year). Since not all 310 million people in America use Apple, those who do need to spend a lot more and the vast majority of those sales will need to be on devices because iTunes sales do not bring much profitability.”

That is $225 for every person, whether homeless, infant, or a nursing home resident.  This is absure!!!!!!!  And this is why QQQ is up over 22%.

Fri, 08/17/2012 - 15:23 | 2715013 adr
adr's picture

$225 for every person in the USA, but not everyone buys Apple.

They have 41% of the smartphone market, and about 18% of the overall cell phone market in the USA.

If everyone had cell phones in the US that would mean Apple could have sold a maximum 55 million phones. Of course the real number is far, far lower.

Apple supposedly makes about $118 per iPhone sold, which given absolute market penetration would give you $6.5 billion in profit.

Somehow the company is worth over $600 billion?

Sat, 08/18/2012 - 12:21 | 2716641 I am a Man I am...
I am a Man I am Forty's picture

They have $117B in cash, actually probably more like $120B now and no debt, so minus cash is $480B.  They make over $40B in profit per year.  They sell a bunch of iPads, Macs, Music/iPod's too, so not just the iPhone.  But keep at it, keep doing your DD, and you might get to where you need to be.  And why you are only talking about the USA for selling phones doesn't make a lot of sense because apple sells phones all over the world. Places like China.

They are getting ready to have the largest product launch the world has ever seen in the iPhone5 and smaller iPad, coming out with a apple tv product too.  Think what you want about apple products but people buy them hand over fist.  I've been bullish on this site about apple at least 200% ago that can be tracked.  Trying to get Reggie to stop making a fool of himself too, he wouldn't listen.

Apples PE is 15, forward PE of about 12, this is a very fair and relatively conservative valuation for a company like Apple.  Take out the cash, even cheaper.  So yes, the company is worth $600B, and that somehow is because they are a debt free cash generating machine.

Sun, 08/19/2012 - 01:03 | 2717653 Bear
Bear's picture

Forward PE? ... they are going to make 50 Billion next year? What if they only make 30 billion and stock goes to 720 ... forward PE = 24 (12x2)

Fri, 08/17/2012 - 15:08 | 2714966 resurger
resurger's picture

No bubble here, move along

Fri, 08/17/2012 - 18:01 | 2715532 Spastica Rex
Spastica Rex's picture


Oh, wait -- sorry.

Fri, 08/17/2012 - 20:57 | 2715864 Fred Hayek
Fred Hayek's picture

Not like that gold and silver stuff that looks obsolete after just a year owning it.

Fri, 08/17/2012 - 15:09 | 2714970 falak pema
falak pema's picture

OT /  Battle of the Giants over Japan : 

ZH had an article saying that Kyle Bass's bet on Japan's demographics pulling down their economy was a given and that the massive short he had taken was beginning to show signs of payout.

Here is an article from BI that indicates that BOA has taken a contrary position.

Ominous, when Oligarchs fall out...

Shogo Fujita On JGB - Business Insider

Fri, 08/17/2012 - 15:21 | 2715008 fonzannoon
fonzannoon's picture

Nice catch falak

Fri, 08/17/2012 - 15:09 | 2714972 adr
adr's picture

There has never been a more idiotic and undeserved stock ramp in history, than the bullshit run in Apple this year.

Are we really supposed to believe that Apple is worth $1000 a share or more? Apple misses earnings and is rewarded with all time highs.

The early release photos of the iPhone5 aren't looking like a world beating product. The phone will be thin, but the Droid Razor is already thinner than the new iPhone prototypes. In fact what has been leaked of the new iPhone looks like a huge step back in terms of design. Then there is the change in the dock connector. Soon to be the most hated peripheral change in history.

Apple is going to push the limits of the cult insanity around its products. The iPhone5 can't live up to the hype and the $600 billion market cap. Apple will make a razor thin unusable piece of trash, that people will still buy, just to be seen holding it. The problem is to get anything done they might need to have another phone in their pocket.

Fri, 08/17/2012 - 15:51 | 2715090 Freddie
Freddie's picture

The reason for the run up.

Theives broke into Jobs house the other day and stole computers.  They found plans for iPhone iAnal.  It is a  iPhone you put in your anus for phone sex.    Very cutting edge or bleeding edge technology.  It is a metrosexual product for either gender and undefined genders.

Fri, 08/17/2012 - 16:07 | 2715167 tawse57
tawse57's picture

Then there is the change in the dock connector. Soon to be the most hated peripheral change in history.

Yep, very good point.

Fri, 08/17/2012 - 19:30 | 2715734 slewie the pi-rat
slewie the pi-rat's picture

it IS a cult

and theHungerGames just blew off the sales record of the entire harryPotter series according to amazoni

mass reading?

again?  dese utes 0'today!  we're d0^0med!

Sat, 08/18/2012 - 15:21 | 2716911 I am a Man I am...
I am a Man I am Forty's picture

You clearly don't own an iPhone.  The stability and rise of Apple's stock price is mainly due to the fact they now pay a dividend.  And if you look at Apple's multiple and compare it to, say, Verizon, that has a multiple of 44, or Google with a multiple of 20, where apple has that oh so crazy multiple of 15 (forward 12), you might start to understand why Apple is trading where it is.

But if you can find me another company that makes $40B plus in profit a year with zero debt I'm all ears.

My iPhone4S is a great phone.  My Droid Incredible sucked.  Never owned a Samsung.


Fri, 08/17/2012 - 15:14 | 2714982 dolph9
dolph9's picture

Apple products are nice but they are now based on the principle of minimalism.

Taken to its extreme, it would mean that eventually you reduce a product to having nothing at all.  It would just be something to stroke, something that looks cool, but has little to no functionality.

It's obvious...Apple has outlived its usefulness.  You can't get rid of the screen itself, right?  Which means minimalism has gone as far as it can go.

It's mass madness, people.  Other than the original iPods, which were indeed clever, even if they weren't original, I can think of no way in which Apple products improve one's life or the world.

Fri, 08/17/2012 - 15:38 | 2715061 sitenine
sitenine's picture

All that being true, you still shouldn't underestimate the importance of being perceived as cool.

I teach an intro to computers class, and I see 50-75 computer newbies every quarter, and have done so for over 6 years now. Students often confide in me about what laptop or tablet they are thinking about getting. I would estimate more than half are initially thinking about an Apple product. So, I sit down with them, and we discuss their needs which usually brings us to the conclusion that a PC would be the most useful choice for their computing needs. So far so good. Frustrating though, I would estimate that at least 75% of those consultations come back to me saying they went with the Apple product. I've given up on scratching my head over this, and have since declined to consult on what product might be a best fit for someone. Frankly, they don't care.

Fri, 08/17/2012 - 16:29 | 2715270 SoCalBusted
SoCalBusted's picture

It's a fashion accessory.  Think LULU, CROX, etc.  There's no logic in it, other than lemming logic.

Fri, 08/17/2012 - 16:41 | 2715313 VulpisVulpis
VulpisVulpis's picture

Exactly. Ascribed value.

Fri, 08/17/2012 - 18:44 | 2715634 smiler03
smiler03's picture

In that context I can see the popularity of Apple products being directly correlated to Facebook popularity. Same generation, same users.

Look at Facebook now.

My son very recently bought an iphone and already has 11 places listed on Facebook where he's been. He's got a good University Degree in Biomechanical Engineering but works in his girlfriend's fathers factory making cardboard boxes for a minumum wage.

I think it's a lost generation and it can only get worse. I also think it's NOT their fault but I do honestly feel embarrased for him. His sister/my daughter qualifies as a medical doctor next year. She has an HTC all singing blah blah blah phone. I have a Samsung E2121B (cost £10).

Rotten Apple is like a Queen ant being fed my a million worker ants tending her thousands of eggs of soon to be worker ants. Ad infinitum.


Fri, 08/17/2012 - 21:42 | 2715951 Freddie
Freddie's picture

 I do honestly feel embarrased for him.

You should feel emabrrassed because most young people who graduate univ in the US or UK drop FaceShite as soon as they leave school.  They then go to Twitter or Tumblr like little lemmings.  FaceCrap is rubbish and uncool.

Fri, 08/17/2012 - 16:38 | 2715302 connel20
connel20's picture

When they are buying laptops with student loans the cost variable is taken out of the equation.

Fri, 08/17/2012 - 18:12 | 2715566 Spastica Rex
Spastica Rex's picture

My first Apple computer was an LC520. All of my Apples, except for my last one (8 years ago), were great. The OS is still way better than Windows and all the virusy shit it sucks in like a magnet - that's part of the "ecosystem," right?

If you were smart, you would advise your students to buy cheap hardware and put Linux on it.

I hate Apple.

Fri, 08/17/2012 - 18:54 | 2715640 sitenine
sitenine's picture

+1 for Linux - open source for the win!

I also teach a Linux class, so I can say without hesitation that most people have never used Linux, and many don't even know what it is.  The majority of computer users don't understand what partitions are in the first place, so just formatting the drive to install the OS is beyond many of them.  There is also the ignorance of how to get useful software and how to use it.  I still believe there is a chance for the freedom of software and the philosophy of copyleft if Linux can get past those hurdles and maybe get the OS pre-installed on some popular machines (an unfortunate fact of modern marketing).

Fri, 08/17/2012 - 19:17 | 2715704 Spastica Rex
Spastica Rex's picture

I think in a way, that's what happened with Apple.  I understand that OS X is built on BSD, not Linux, and I understand the differences between BSD and other "Open" licensing schemes, but in a very real sense, Apple OS is *Nix.

Why anyone pays for software (outside of very specific professional or entertainment purposes) is beyond me. As a hardware maker (marketer), Apple figured this out early.

The desktop/laptop world is now static. Personally, I don't use anything else, but I think most future development/growth will be in smaller devices. Desktops/laptops will continue to be used just like refrigerators will continue to be used and the software that powers them will trend towards zero cost.

Sat, 08/18/2012 - 10:59 | 2716469 NidStyles
NidStyles's picture

I would buy one of those solid Al framed Mac laptops over a plastic framed Windows machine any day of the week. It's not about specs or software at this point, it's about that Al uni-frame being tough as nails durable. I can not tell you how many laptops I have been through before I bought a Macbook with that frame. Even the Thinkpad's with their Magnesium frames do not compare. 

That is why I would buy one of those over any other brand. Of course I would install Windows because what's the point of having such a laptop if it can't run anything worthwhile. 


Before *Nix geeks on me about installing Windows I should warn you. My home machine is running Slackware. I've had Slackware powering my home systems since version 3. My work software does not come in Flavors for *Nix, and runs like a dog with WINE. 

Fri, 08/17/2012 - 15:44 | 2715077 machineh
machineh's picture

'You can't get rid of the screen itself, right?'

Sure you can. AAPL just patented some hologram projection technology.

So the AAPL device becomes invisible. All you'll see is the life-size virtual girl taking her clothes off inches from your, uh, 'nose' ...

Fri, 08/17/2012 - 15:14 | 2714984 mewenz
mewenz's picture

but, its the Greenspan "New Economy" part 2,isn't it Ben?  Funny how this seems to happen when one has negative real interest rates...but of course the Fed has nothing to do with this

Fri, 08/17/2012 - 15:15 | 2714987 prains
prains's picture

too many apples gives you the runs.....just sayin

Fri, 08/17/2012 - 15:15 | 2714989 the 300000000th...
the 300000000th percent's picture

Isnt some of this big figure dollar amount stuff really just inflation?

Sat, 08/18/2012 - 11:00 | 2716480 NidStyles
NidStyles's picture

Notice the article mentions Hedge Funds. On ZH any mention of Hedge Funds is a mentioning of Inflation. 

Fri, 08/17/2012 - 15:16 | 2714990 littleguy
littleguy's picture

Apple's a profit machine. At the expense of the credit card companies.

Fri, 08/17/2012 - 15:18 | 2714996 DavidC
DavidC's picture

When is this fucking thing going to break?


Fri, 08/17/2012 - 16:30 | 2715273 SoCalBusted
SoCalBusted's picture

Probably when the PPT stops buying.

Fri, 08/17/2012 - 15:18 | 2714998 Disenchanted
Disenchanted's picture




It was cool to have a Commodore 64 too...In a decade everyone might be clamoring for one of these.

Fri, 08/17/2012 - 15:27 | 2715024 Dr. Richard Head
Dr. Richard Head's picture

Hard to take a shit in the morning and play Angry Birds on that though.  :)

Fri, 08/17/2012 - 15:36 | 2715049 Rainman
Rainman's picture

I too am ashamed of my angry birds addiction..ashamed.

Fri, 08/17/2012 - 18:51 | 2715649 smiler03
smiler03's picture

£26 ($41) for a new computer. Big hopes for a new UK designed circuit board/computer to get kids into programming.

Sat, 08/18/2012 - 11:07 | 2716500 NidStyles
NidStyles's picture

That thing has abeen around for a year. It's based on Arduino, which has greater library support thanks to having been around for nearly a decade now. I think the Maple ARM based devices are far better. The only thing Rasberry has going for it other than it's cost are the video outputs.

Fri, 08/17/2012 - 15:19 | 2715001 spartan117
spartan117's picture

Larger than all the listed gold/silver mining companies combined.

Sun, 08/19/2012 - 00:56 | 2717635 Bear
Bear's picture

Yeah ... but Apple has 110 billion real money

Fri, 08/17/2012 - 15:31 | 2715040 adr
adr's picture

Apple charges Chinese telecoms $660 for each iPhone, which they then have to give away for free with a 2 year $45 per month contract.

What an amazing business model perfectly tuned to lose money on every phone they sell. No wonder they are dropping Apple. Every Chinese person can just buy a KIRF iPhone around the corner for $50 and use it on any provider's plan.

The rule in China is only the stupid buy a product from a foreign company.

Fri, 08/17/2012 - 18:56 | 2715657 smiler03
smiler03's picture

I'm not sure about that. I bought three different Chinese made "ipods" from eBay. They all lasted about a week and never functioned properly. Yes I'm a fool. I eventually bit the bullet and bought a Sony, fuck Apple. The Sony still works ;O)

Fri, 08/17/2012 - 15:21 | 2715005 edifice
edifice's picture


Fri, 08/17/2012 - 15:26 | 2715021 adr
adr's picture

cool article:

Pretty much says that the reported cell phone numbers are a complete sham.

Considering Samsung ships three times the number of phones than Apple, shouldn't Samsung be worth $1.8 Trillion?

Fri, 08/17/2012 - 18:57 | 2715660 smiler03
smiler03's picture

I don't think Samsung abuse their customer base. In the long run, go Samsung!

Fri, 08/17/2012 - 21:06 | 2715885 Fred Hayek
Fred Hayek's picture

Apple's customer base *wants* to be abused. You can't have the S without the M.

Fri, 08/17/2012 - 15:29 | 2715027 diogeneslaertius
diogeneslaertius's picture

 $AAPL turning record profits off of a combination of people's inability to figure out a computer and Chinese slave labor

Fri, 08/17/2012 - 15:29 | 2715029 diogeneslaertius
diogeneslaertius's picture

enjoy your fake-ass tricorders

Fri, 08/17/2012 - 15:29 | 2715031 SaveTheGreenback
SaveTheGreenback's picture

Does anybody know how many grams/ounces of silver exist in an iPad?   Trying to find value here....

Fri, 08/17/2012 - 19:40 | 2715754 slewie the pi-rat
slewie the pi-rat's picture

just consider it part of the nutritional value

trace e.le-mentals;  like blueberries!  rmmm...!

Fri, 08/17/2012 - 21:07 | 2715886 Fred Hayek
Fred Hayek's picture

Bill Dudley does!

Sat, 08/18/2012 - 11:12 | 2716508 NidStyles
NidStyles's picture

not enough to recover. If you want to recover that stuff, pick up used nokias, they usually have more. 

Fri, 08/17/2012 - 15:41 | 2715033 Mercury
Mercury's picture

As of this moment, the company that makes a phone, a tablet, various computers (all of which now have an upgrade lifecycle inside of 1 year and ever shorter), has a product "ecosystem", retail stores and may be launching a cable box,...

How about an Imarket? 


Seriously, give it a shot...the existing platform is kind of begging to be category-killed.

Fri, 08/17/2012 - 15:30 | 2715035 Tsar Pointless
Tsar Pointless's picture

iHave a 4th Generation iPod Touch. iGotitjustlastyear. iWillnotneedanotheroneforquitesometime.

iApologize, Apple. iWishyoubetterluckelsewhere.

Fri, 08/17/2012 - 15:37 | 2715056 Dr Benway
Dr Benway's picture


Well at least not until the crap breaks

Fri, 08/17/2012 - 15:45 | 2715081 Tsar Pointless
Tsar Pointless's picture

Well, yeah. There's that - they are crApple, after all.

Fri, 08/17/2012 - 18:59 | 2715663 smiler03
smiler03's picture

Hah! Or the battery won't hold it's charge anymore.

Sat, 08/18/2012 - 06:58 | 2716283 Dr Benway
Dr Benway's picture

the iphone 4 needs to be recharged every day when used at a normal level, from the very get go

Fri, 08/17/2012 - 15:32 | 2715041 koaj
koaj's picture

My Galaxy S3 beats the piss out of the wife's iphone 4s

Fri, 08/17/2012 - 16:06 | 2715158 css1971
css1971's picture


(Disclosure: I'm long NOK)

Fri, 08/17/2012 - 16:49 | 2715333 Osmium
Osmium's picture

Would happen to have a video of that?  That would be cool to see.

Fri, 08/17/2012 - 19:00 | 2715668 smiler03
smiler03's picture

I thought the mighty AAPL had almost sole rights to the US market courtesy of the US courts? (I hope i'm wrong)

Sun, 08/19/2012 - 01:50 | 2717682 ToNYC
ToNYC's picture

Not for long.

Fri, 08/17/2012 - 15:35 | 2715042 walküre
walküre's picture

If someone can buy a condo at 15 CPW for $95,000,000 then someone will buy AAPL at $700

Provided the Company doesn't screw up too badly in the meantime.

Let's face it. We are all just onlookers. We have been priced out of the markets because we weren't "chosen" to take 0% interest loans for eternity and without any collateral.

But we're still forced to accept the funny money as payments for our goods and services. Time to start a new currency and provide proper valuations and access.

Backed by gold of course. The equivalent of $50,000 USD per oz is 1 unit of this new currency. Who is in? All of a sudden your personal net worth in the funny money is just a joke of course. We're all Dollar gazillionaires if we take back the power of money.


Fri, 08/17/2012 - 19:54 | 2715781 slewie the pi-rat
slewie the pi-rat's picture


slewie's economic plan: 

  • if you hava job: try to ease onto unemployment or disability
  • if you're not working:  get a job!
  • see?  something for everybody!
Fri, 08/17/2012 - 15:41 | 2715051 Dr. No
Dr. No's picture

How long until AAPL becomes self aware?  It is obvious from the headlines, we are "Marvelling at our magnificence.."

Fri, 08/17/2012 - 15:41 | 2715069 monopoly
monopoly's picture

Ya know, I agree with all of you on Apple. Love the product, my daughter has a decent job with them and have used Macs for oh, 20 years or so. And its valuation IS obscene. But.....

When AMZN earns one fucking penny, and will lose millions the next quarter, and their stock is at $240.00. Well which one is more absurd? At least AAPL has over 100 billion in the bank. Shows me that at some point this entire phony rigged house of cards needs to collapse. When the hell can we start over? I am ready.

Fri, 08/17/2012 - 15:54 | 2715087 sitenine
sitenine's picture

I see your point, and mostly agree, but I don't really see the genius in having $100B 'in the bank'.

Fri, 08/17/2012 - 21:10 | 2715890 Fred Hayek
Fred Hayek's picture

Don't worry. It's in J.P. Morgan. They've got a fortress balance sheet.

Fri, 08/17/2012 - 15:41 | 2715070 Getting Old Sucks
Getting Old Sucks's picture

This is certainly good news!  Pretty soon we'll be able to under executive order of course, take APPL and give it to China as payment in full on our debt.  See?  There are answers to some of our problems. /SARC

Fri, 08/17/2012 - 19:08 | 2715686 smiler03
smiler03's picture

Apple couldn't even bail out Greece (yet) let alone pay off China!

"Cost of Greek exit from Euro put at $1 trillion".

I'd rather own a Greek beach than a million iphones.


Fri, 08/17/2012 - 21:12 | 2715896 tenpanhandle
tenpanhandle's picture

how about a million ducks or a 12 inch Bic

Fri, 08/17/2012 - 15:42 | 2715071 vbone
vbone's picture

proof earnings dont matter broz, they missed but nobody care bro!

Fri, 08/17/2012 - 15:43 | 2715075 geewhiz190
geewhiz190's picture

cb radios, RCA, Memorex, SONY VHS, Compaq, Palm...etc etc

Fri, 08/17/2012 - 15:47 | 2715085 nufio
nufio's picture

wonder if reggies put options expired out of money. not that i feel his analysis is wrong. i just stopped buying puts in this ridiculous market, they also stopped me from buying options with my 401k gambling money.



Fri, 08/17/2012 - 15:54 | 2715106 monopoly
monopoly's picture

Shorting this market is a fools game and has been for over 3 years. Sure, there are PCLN, CMG, NFLX, and RIMM which are great....If you hit it just right. Otherwise when rabid fools run our financial system and no one ever gets indicted for the fraud and destruction wrought on our citizens and stocks just go up because, well, better odds in Nevada, and at least the girls are pretty. Outside of real money and select miners, no interest in this broken system.

Sat, 08/18/2012 - 13:27 | 2716735 Prof Gulliver
Prof Gulliver's picture

Reggie's puts never expire out of the money. He has never made a losing trade in his life. Never, ever, ever. Just read him, he'll tell you.

Sun, 08/19/2012 - 00:43 | 2717626 Bear
Bear's picture

Mine did ... 575 August puts ... paid 16.10 received 0. I'll be back at it next month cause I'm the Bear

Fri, 08/17/2012 - 15:53 | 2715099 orangegeek
orangegeek's picture

It's difficult for a stock to outperform its index.  In this case, the NASDAQ100 is poised to turn down.


But apple has done well inventing gadgets and turning it into an empire. 

Fri, 08/17/2012 - 15:56 | 2715116 adr
adr's picture

An Empire usually means controlling the majority of the land. Apple doesn't have a majority in any sector of their business. They are even losing in tablet numbers now.

Fri, 08/17/2012 - 15:53 | 2715102 adr
adr's picture

The Apple TV is turning out to be nothing more than a cable box. Supposedly it will let you use iCloud for DVR storage. GAMECHANGER!!!!! WOW!!!!


A 7" version of the iPad is supposedly coming out to combat the Nexus 7. It will retail for $399 in 8GB form. Meanwhile the Nexus 7 retails for $199.


The iPhone 5 will be available in October featuring a slightly larger screen and a thinner profile. Also featuring a new dock connector rendering every single iOS peripheral ever made obsolete, including every single charger. Not to mention a new nano SIM card that makes it impossible to use any other SIM ever made with the new iPhone.


Fri, 08/17/2012 - 19:11 | 2715693 smiler03
smiler03's picture

Excellent analysis. I'm in for 1 share. OOPS, I haven't got $700 to spare. Will they take an iPhone3 for $70 as part payment? Thought not.

Sat, 08/18/2012 - 07:35 | 2716300 TWSceptic
TWSceptic's picture

You can hate Apple all you want, meanwhile I'm enjoying their products. I've used competitive products, they still suck in comparison.


Companies like Apple should make you proud. It's the only good thing left in the US.

Sun, 08/19/2012 - 00:40 | 2717621 Bear
Bear's picture


Obviously Apple stands as a shining example of American entrepreneural capability and of that I am proud. But gravity doesn't give a sh.t


Fri, 08/17/2012 - 15:56 | 2715104 poor fella
poor fella's picture

I don't have a napkin on me, but say this market cap is about $2k for every American.

ZeroHedge for ONCE should ask, "What does Apple know that Americans don't?"


(or the world, for that matter) - Apple obviously has it all figured out.

Maria Bartiromo just said, "Don't fight the Fed"... FUCK YOU MARIA!!!!

Fri, 08/17/2012 - 15:58 | 2715126 Ness.
Ness.'s picture

There was a time when this was the coolest thing on the planet and everyone just had to have one.  


Fri, 08/17/2012 - 15:58 | 2715127 adr
adr's picture

If you be generous and say 50 million Americans own an Apple product, that makes the market cap $12k per Apple citizen.

Do you know anyone that spends $12k on Apple products?

Fri, 08/17/2012 - 19:17 | 2715705 smiler03
smiler03's picture

I do! I do!

My American friend bought this iphone 4S Elite Gold for $9.4 million, does that count?

Fri, 08/17/2012 - 19:20 | 2715712 smiler03
smiler03's picture

I can just imagine hundreds of ZH folk reading this article and licking their iphones at the same time.

Fri, 08/17/2012 - 15:59 | 2715130 AcidRastaHead
AcidRastaHead's picture

Don't you knock my Palm Tungsten.  I've almost mastered using Graffiti.

Fri, 08/17/2012 - 16:03 | 2715141 GMadScientist
GMadScientist's picture

What bastard gratuities?! ;)

Fri, 08/17/2012 - 16:02 | 2715137 GMadScientist
GMadScientist's picture

iPhone 5 sales will be the worm.


Fri, 08/17/2012 - 19:02 | 2715673 Yen Cross
Yen Cross's picture

GMadScientist   I think you have some good ideas, and enjoy your posts.  You're obviously much more adept than I, with the TECH. Sector. 

    When you say the worm, are you inferring a modest unknown denominator? Ex; TV/iphone cross, Siri upgrade, ect... Thanks for your time.

Fri, 08/17/2012 - 21:15 | 2715902 tenpanhandle
tenpanhandle's picture

I think he means "the worm in the apple".

Fri, 08/17/2012 - 22:56 | 2716042 Yen Cross
Yen Cross's picture

 Perhaps you can " juxtapost" my q/a?


Fri, 08/17/2012 - 16:03 | 2715145 mendigo
mendigo's picture

blankenfiens monster.

Fri, 08/17/2012 - 16:04 | 2715148 poor fella
poor fella's picture

Bloomberg just played the sound effect of a Piccolo Pete as DOW hits 5-year high - I noticed they left out the "POP"

Fri, 08/17/2012 - 21:18 | 2715911 tenpanhandle
tenpanhandle's picture

you have to put great pressure on the base before you get the pop

Fri, 08/17/2012 - 16:06 | 2715157 theprofromdover
theprofromdover's picture

Wait til Apple turns itself into a Bank.

Wait til Apple launches its new battery technology.

You have to remember Apple is a company that invents things, it may have an unlimited upside.

I think the shares are overpriced, but maybe they aint.

Apple could split into half a dozen giant corporations very easily, each in its own field.

Don't watch what the hedge funds and algos do, good old fashioned analysis should tell you whether it is a good company.

Sun, 08/19/2012 - 00:34 | 2717614 Bear
Bear's picture

Should endless expansion of dollars slow ... bigtime recession will stall tech big time ... Apple will fall just as Newton predicted

Fri, 08/17/2012 - 16:19 | 2715217 reader2010
reader2010's picture

The next price target prints at $800 according to its P&F chart. God has to make it crazy before he destroys it.

Fri, 08/17/2012 - 16:25 | 2715253 q99x2
q99x2's picture

Walmart and Apple the two largest threats to the human species.

Fri, 08/17/2012 - 19:44 | 2715760 Hohum
Hohum's picture

Apple may not be directly a threat, q99x2, but it does show the investors really aren't interested in investing for the world of tomorrow.  Instead of massive investment in electric cars, nanotechnology, and nuclear fusion, people want to invest in a company that makes neat toys.

Apple's success demonstrates that investors (if they ever had it) have lost all desire to invest for the long term.

Fri, 08/17/2012 - 16:26 | 2715257 mr_bad
mr_bad's picture

The bigger they are, the harder they fall.



Fri, 08/17/2012 - 16:29 | 2715266 falak pema
falak pema's picture

all aboard the Titanic?

Heading for the USA from Southhampton!

Maiden Voyage; like for Apple above 600! 

Fri, 08/17/2012 - 16:48 | 2715332 cocoablini
cocoablini's picture

APPL is the posterchild for the remainder of innovation in the USA. Its like seeing a blockbuster movie-everyone knows it and everyone can't wait to see the latest Blockbuster even though they are disappointing endeveours. I could name 100 better films than Hunger Games in the same year, but why bother. It's marketing and herd mentality.

Funny thing is, as a developer, I am seeing a stall in innovation. The developers, existing OS,ecosystem have kinda' boxed Apple into a evolutionary stage.

And the iPhone really isn't all that great. Some of the 3rd party apps are-but the phone itself is becoming BORING. Everyone has one or a clone, they are hard to read, the typing sucks, slow,easy to break and...BORING. As interesting as a ...TOASTER. I will also note that both platforms have so much damn chatter going back and forth(tracking clicks,ads, monitoring,pulling,pushing) that these things last for about 6 hours only.

So the next step for Apple is to demolish another sector-like Televisions and so on. Then I would except the stock to have been worth it. Razor thin iPhones, or smaller iPad mini with same DULL OS is...BORING

Fri, 08/17/2012 - 17:07 | 2715383 azengrcat
azengrcat's picture

An Apple card to earn points towards Apple products at a low 17.99%-27.99% APR?  $1,000 stock... 

Fri, 08/17/2012 - 18:13 | 2715559 edifice
edifice's picture

Apple issues iDebt through Juniper Bank (Barclays). The card is Platinum, with a 16.99% APR. Unlike physical platinum, however, the card stores no wealth; you don't even get points.

Fri, 08/17/2012 - 18:19 | 2715551 Yen Cross
Yen Cross's picture

 The AAPL never ROTS< Far from the Fed!   SNAP

Fri, 08/17/2012 - 18:49 | 2715646 spekulatn
spekulatn's picture

What it's like to own an Apple product



"Will gargle balls for money"

       (or iPride 4g)

Fri, 08/17/2012 - 19:15 | 2715703 BlackSunshine
BlackSunshine's picture

B!tch all you want about Apple, but the truth of the matter is, is they produce product that people are willing to "work" for (real work mind you, not collecting government dole outs). 

When the fiat currency renders worthless, all you have is what you produce, and if you can't produce anything, then you become a serf of an org that can produce. Apple produces product, which means it's equity is more valuable than the worthless fiat currency we call the dollar.


Sat, 08/18/2012 - 01:23 | 2716137 Yen Cross
Yen Cross's picture

FOX con China is antiquated. I'll parlay some other ideas.

   Is that ok? From a stubborn, right wing save the sharks guy?

Fri, 08/17/2012 - 21:24 | 2715927 YesWeKahn
YesWeKahn's picture

When MSFT reached this number, it soon triggered the great tech bubble bust.

Fri, 08/17/2012 - 22:49 | 2716024 Yen Cross
Yen Cross's picture

                 Is , Nasdaq over/valued?                                           Yes



Sat, 08/18/2012 - 06:29 | 2716272 endorush
endorush's picture

Apple is only successful because of name recognition.  It's "trendy" to walk into Starbucks with an Iphone in one hand, Ipad in the other.

Kreayshawn should change the lyrics to "Gucci Gucci, Louis Louis, Fendi Fendi, Apple"


Sat, 08/18/2012 - 11:54 | 2716594 Dens
Dens's picture

Not only the brand but also the estimations for growth in emerging markets is pushing this. In the longer run, it's reasonable to assume iphone / ios will have the same fate as the Mac pc; great hardware and OS combo, best there is for heavy jobs, but very expensive since competitors have systems that basically do the same at half the price.

I don't think people will be all that interested in a 4x as expensive iphone when the micro hardware picks up in speed and bandwidth and android runs perfectly smooth doing all one can ask. Android seems like the new windows for smartphones, only this time it's free.

Sun, 08/19/2012 - 00:27 | 2717603 Bear
Bear's picture

Emerging markets? There is no way that EM's are going to pay the iphone premium. The iphone was early and good and sold into the America's Apple fixation. The ipod became the game changer and iphone followed as the best of class and then the ipad with a 'interesting' idea ... the emerging market is much more price sensitive and has a lot less money .... China? Give me a break ... they are way too smart

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