Apple ( AAPL) The Greatest stock of all time
Just after one year from Steve Jobs resignation as CEO the company he founded in 1976 has become the most valuable stock of all times. With a market cap of $623 billion as of today’s close, it has surpassed all time record held by Microsoft for $619 billion in 1999 at the height of dot com valuations. The stock closed at the highest ever at 665.15 today. The strong finish towards the close guarantees lot more upside to be seen in next few days.
AAPL has been on a tear recently. The dismal quarterly earnings drove the stocks to 575 levels , a simple miss due to product delays. The company was in between new products coming up in September. Both iPhone and i Pad are being released in September with newer versions and the sales should pick up for the balance of year which in turn should push the stock prices higher, and create more buzz for the the biggest stock in the market place.
The charts on table show a large sized , shallow cup which started breaking out last Friday on heavier volumes. The volumes rose more than 50 percent last two trading sessions vaulting the stock 35 points in two days. The buy point in this larger cup was 641.35 which got easily surpassed. With no resistance above the stock has room to move into the blue skies.
Whats more amazing that the stock has doubled in market cap from $300 billion to $600 billion is less than 19 months. The gap between AAPL and the next biggest stock Exxon Mobil XOM is just about 200 billion and it will grow as AAPL moves higher in this chart. There are only 9 companies in S&P 500 which have a market cap greater than 200 billion.