Following the record-breaking earnings, Apple stock shares passed the $200 mark in intraday trading today, establishing a new all-time high for the company's stock, as its market cap is now above $983 billion dollars!
The earnings report reaching the high end of its guidance and beating Wall Street expectations. Apple hovers ever so close to a trillion dollar valuation. However, the jump in market cap was actually smaller than the rise in share price, also the company's market cap can't be determined until Apple files its quarterly 10-Q form today with an updated total of outstanding shares.
For Apple to pass the trillion-dollar market cap milestone, their stock will need to cross the ~$209 level assuming the company does not buy back any more shares. Currently, Amazon is second closest to that milestone, with a market cap around the $875 billion mark, ranked third and fourth is and Microsoft and Google, who have $852 million and $808 million, respectively.
Image Via InvestorPlace
Image Via InvestorPlace
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