Dumb it down
What record did Apple beat today?
You know how everyone you meet seems to have at least one Apple product these days? Well that translates into an awful lot of money.
So Apple are rich. That’s hardly news.
True but Apple are really, really, rich. In fact, they have just been named as the most valuable company ever today.
Go on, tell us...
Based on their stock price yesterday, Apple is now valued at an astounding $623 billion, or around €500 billion.
So you said they broke a record, what company lost their very golden crown today.
That would be Apple’s old friends Microsoft who reached $621b in 1999, but if the figures were adjusted for inflation, Bill Gates’ lads would still lead by about $200b.
It might be a stupid question but how did Apple get so rich?
Put simply they sell a lot of stuff people want to buy but the rise in their share price in recent weeks is down to anticipation over the new iPhone, the iPhone 5, which should sell like Guinness at the Galway Races and make the company even more money.
Add in rumours about a new, cheaper iPad and you can see why investors think that Apple is only going to go up so they are piling in.
How much is one Apple share now?
A rather prohibitive $665.15.
And how much were they when they floated?
When Apple launched on the stock market, in December 1980, the shares were £3.59. When founder Steve Jobs returned to the company in 1997, shares were still only $21.81, so you would be very, very wealthy now if you held onto them.
Just out of interest, how much is Microsoft worth now?
Just a mere $209b.
So what goes up must come down, right?
Market analysts are predicting that Apple shares will climb to around $750 at least, while some are predicting that it won’t be too long until it becomes $1,000 a share.
These are the same lads who failed to see the recent recession coming, right?
Yep, but they all claim that Apple is different.
Oh God, that’s it. I’m keeping my money.
But you will buy the new iPhone?
Of course, but that’s it.