Apple stock gains nearly $100 since Steve's passing
Apple 2.0 editor Philip Elmer-DeWitt is back today with another fascinating Apple statistic: "[Apple] has gained nearly one Facebook in value since Steve Jobs died."
Elmer-DeWitt remarks that the share price of AAPL on October 4, 2011, the day before Jobs passed away, was US$372.50 and that the market capitalization of the company was about $347 billion. Now, just four short months later, the stock price is (as of this morning) $472.66, over $100 greater than before Jobs died. That puts the market capitalization of Apple, Inc. at about $440 billion -- over $90 billion of growth in just four months.
Those numbers are staggering. $90 billion is about nine-tenths of the value that Facebook has been given in advance of its upcoming IPO. Elmer-DeWitt notes that it's hard to argue that Apple is overvalued. He quotes Erik Savitz of Forbes noting that even after backing out Apple's $100 billion cash horde, valuation of AAPL is just 2.6 times revenues and 10 times earnings.
The Apple 2.0 post ends on a rather dour note, with Elmer-DeWitt noting that "two prominent Apple bulls" agree that Apple's shares are ready for a sell-off.
