Earlier today, Apple passed Exxon in the stock market to become the most valuable company on the planet! However, at the end of the day Exxon passed up Apple took back its place as the world’s most valuable company.
But, Apple’s domination today raised the question “what’s next for Apple?” – Robert Cyran, a columnist, believes that Apple will soon become the world’s first trillion dollar company:
Apple’s sales have been surging 80 percent a year, and its profit faster. What’s more, it trades roughly in line with the growing stock market — and at less than half the price-to-earnings multiple it fetched in 2006, when revenue growth was much slower. Apple now trades at about 11 times estimated earnings for the fiscal year ending September 2012. The Standard & Poor’s 500-stock index is valued at about 10 times next year’s profit. But Apple’s sales growth is nearly 10 times faster than that of the average company. Apple also holds $76 billion of cash and investments.
So will Apple really become a trillion dollar company? I guess only time will tell – and until then, stay tuned for more Apple news!