CNN Money reports, that Apple has gained nearly "one Facebook" in value since Steve Jobs died. This is not a joke - here's a quote:
"The day before Steve Jobs passed away, Apple (AAPL) shares closed at $372.50 and its market cap stood at $347 billion.
Four months later, the stock is up nearly $100 and its market cap is $437 billion. To put that $90 billion gain in perspective, it's nine tenths the value analysts have placed on Facebook in advance of its initial public offering.
Some believe that Facebook is being overvalued, but it's hard to argue that Apple is."
The Unofficial Apple Weblog notes, that $90 billion is about nine-tenths of the value that Facebook has been given in advance of its upcoming IPO.
CNN continues: "Erik Savitz in Forbes calculates that a Facebook worth $100 billion would have a P/E of 100x trailing earnings, or 27x trailing revenues. By comparison, he writes, Apple is trading at 3.4x trailing revenues and 13x trailing profits. Back out the nearly $100 billion Apple now has in cash, and the valuation drops to 2.6x revenues and 10x earnings."
This result might be a surprise. Let's not forget, taht Jobs was Apple's mentor and a genius. On the other hand this proves that Steve's spirit is still present and we can expect Apple to remain an innovative and dominant technological company. However there are voices that Apple's shares are ready for a sell-off. As always - time will tell.
Add comment
