Investors search for reasons the company's market cap grew by $15 billion in one day
Charts: Richard Bloch. Click to enlarge.
The $16.49 Apple (AAPL) rose Thursday was only its sixth largest one-day dollar gain, according to AAPLInvestors, and in percentage terms, 3.46% doesn't even make the top 10.
But when the world's most valuable company rallies a few points, its market capitalization gets a whole lot bigger. According to the Bespoke Investment Group, Apple's one-day gain Thursday -- $15.4 billion -- was larger than the market cap of half the companies in the S&P 500.
Why Thursday? There are no definitive answers but plenty of theories. Among them:
One footnote: Richard Bloch points out on Seeking Alpha that most of the action Thursday was in the derivatives market, not the stock itself. Volume on the NASDAQ was high, but not record-setting. The options volume, however, was off the charts. See above.
Also, the combined market caps of Google and Microsoft. Steve Jobs would be pleased.
GDP: $458 billion. Map: Tourist Destinations
Apple (AAPL) closed Thursday at a record high $493.17, up a whopping $16.49 (3.46%) for the day. That pushed its market capitalization (share price times shares outstanding) to nearly $460 billion -- more than any other company in the world and, as Apple Insider's Neil Hughes noted, greater than the value MORE
Philip Elmer-DeWitt - Feb 9, 2012 5:05 PM ET
The world's most valuable company is now worth $425 billion, $24 billion ahead of Exxon
Apple (AAPL) capped a post-earnings surge by closing Tuesday at $456.48, a new all-time record high.
In intraday trading it reached as high as $458.24, also a record.
Measured by market capitalization (price per share times number of shares outstanding), Apple is now worth more than $425 billion, making it the world's most valuable company by far.
No. 2 MORE
Philip Elmer-DeWitt - Jan 31, 2012 4:19 PM ET
Exxon Mobil finished 2011 where it started: As the world's most valuable company
Source: Wolfram Alpha
It was nip and tuck for more than three months, from that day in early August, when Apple (AAPL) first overtook Exxon Mobil (XOM), to mid November, when Exxon finally pulled away.
At one point in late September, Apple's market cap (share price times number of outstanding shares) was nearly $36 billion more than Exxon's.
But though Apple's MORE
Philip Elmer-DeWitt - Jan 2, 2012 11:58 AM ET
The closing bell rang Wednesday with Apple's market cap, for the first time, at No. 1
Chart courtesy of ycharts.com
Apple (AAPL), for now at least, is the world's most valued company by market capitalization (determined by multiplying a company's stock price times number of shares outstanding). Here's how it happened:
It caught up to Google (GOOG) in mid-2009
It overtook Walmart (WMT) in March 2010
It passed Microsoft (MSFT) in May 2010
It caught MORE
The computer maker is once again the world's most valuable company
As the Dow Jones industrial average plunged another 500-plus points Wednesday, Exxon Mobil (XOM) plunged more than Apple (AAPL) and once again gave up its long-held spot as the No. 1 public company in the world in terms of market capitalization.
When the closing bell rang, Apple closed on top for the first time. The tale of the tape looked like MORE
Philip Elmer-DeWitt - Aug 10, 2011 11:55 AM ET
The company's market cap vied with Exxon Mobil's in see-saw trading Tuesday
Chart courtesy of ychart.com
The lead changed hands several times Tuesday as Exxon Mobil (XOM) recovered from early losses and Apple's (AAPL) gains leveled off. By 3:00 p.m, Apple's market capitalization (share price times number of shares outstanding) was more than $5 billion larger than Exxon's, according to Google Finance. As the closing bell approached, however, Exxon surged faster than MORE
Philip Elmer-DeWitt - Aug 9, 2011 2:01 PM ET
But then, neither is Microsoft gaining on Apple
Market capitalizations. Source: Wolfram Alpha
As measured by market capitalization (i.e., stock price times number of shares) Apple (AAPL) overtook Microsoft (MSFT) in May 2010 to become the world's most valuable tech company.
Apple still trails Exxon Mobil (XOM), the No. 1 publicly traded company, by more than $90 billion.
Philip Elmer-DeWitt - Jun 20, 2011 7:51 AM ET
It's now worth what Microsoft was six months ago, while Microsoft falls further behind
Source: Wolfram Alpha
Apple (AAPL) has set four new record highs in past five trading days. It closed Wednesday at $287.75, pushing its market cap to $262.88 billion, widening the gap with Microsoft (MSFT, market cap: $212.96 billion) and closing in on America's most valuable company, Exxon Mobil (XOM, market cap: $312.89).
See also:
Apple overtakes Microsoft, MORE
Philip Elmer-DeWitt - Sep 23, 2010 6:33 AM ET
But four years ago Microsoft's quarterly revenue was 2.7 times Apple's. Now it's 2.2% larger.
Source: Company reports
When Apple (AAPL) reported quarterly revenue of $15.7 billion on Tuesday, there was a lot of speculation that this would be the quarter that it finally overtook its long-time rival.
But it was not to be -- at least not yet. Microsoft (MSFT) reported its fourth quarter earnings after the markets closed on Thursday MORE
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| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.95 | -0.16 | -1.97% |
| Microsoft Corp | 31.27 | -0.17 | -0.54% |
| Ford Motor Co | 12.28 | -0.25 | -2.00% |
| General Electric Co | 19.39 | 0.17 | 0.88% |
| Citigroup Inc | 32.36 | -1.00 | -3.00% |
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,938.67 | -27.02 | -0.21% |
| Nasdaq | 2,933.17 | -15.40 | -0.52% |
| S&P 500 | 1,357.66 | -4.55 | -0.33% |
| Treasuries | 2.00 | -0.04 | -1.96% |
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