Where Do We Go From Here?
As we report on the Apple market position we are saddened by the news of the passing of Steve Jobs.
Well, the terrible but inevitable occurred; Steve Jobs passed away. The fact he lived so long with such a lethal condition was a miracle in itself but even Jobs was not indestructible. It has been said that 40% of Apple's market capitalisation was down to the fact Steve Jobs was the CEO of the business. This metric, the value of the company in cold cash, makes it the most valuable company on the whole American stock market, surpassing Exxon. The price ticket for apple is $371,000 billion, a cool third of a trillion bucks. This is in many ways amazing, as is most that can be said about Apple. Yet, in the end, money talks and other opinions walk. Much against the expectations of those who saw Steve Jobs as the genius that put Apple on top, the share price has not cratered. Instead the price has actually risen, suggesting either that the market has already written down the Steve Jobs factor or that it is simply in denial.
The Future
All in all, the tragic loss of the genius that built the company and a veritable storm of competition against its core products Apple seems impervious to all shocks. This is only heightened by the fact it is taking place in the midst of a financial crisis.
Can nothing dent this juggernaut? You could point to the near $90 billion dollars of cash in the bank and suggest that this is a good indication of the kind of momentum Apple has, which will tide it over against all mishaps. This is clearly what the market believes. Theoretically the market is always right, so those that see Apple losing its shine may have a long time to wait.
Where do you think the Apple stock is headed? Tell us on Twitter!
Clem Chambers is CEO of stocks and investment website ADVFN. For free real-time stock prices go to: www.advfn.com
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