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back to article Apple now most valuable company OF ALL TIME

Apple first earned the title of the world's highest-valued company in 2011, but rumors about the impending iPhone 5 sent its stock soaring to new heights on Monday, earning it a new distinction, that of the highest-valued company in stock market history. Shares of the fruity firm swelled more than 2 per cent on Monday, topping $ …

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fear not

facebook will get to it's $1T valuation at some point (probably won't be inflation adjusted to 2012 dollars though)

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Typical journo rubbish

While they all hailed the large market cap, I had to Google to find out the more important info:

The company's ``price-to-earnings ratio'' is 15.6, compared to 16.1 for the S&P 500 overall. That suggests investors, unlike analysts, don't believe the company can grow its profits much from current levels.

There you have it. Unless the Board of Apple can pull another rabbit out of the hat like they did with the iPod, iPhone and iPad, then the stock is fully valued. With the TV industry in the doldrums and Steve Jobs no longer with them, it's difficult to see how any rumoured new Apple consumer appliance will maintain their momentum.

Like many others, I'm old enough to remember what happened to Apple Computer Inc the last time Steve Jobs departed from the company he co-founded.

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Anonymous Coward

Re: fear not

All empires rise then dominate for a few years before........

They crash and burn!

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Re: Typical journo rubbish

Like many others, I'm old enough to remember what happened to Apple Computer Inc the last time Steve Jobs departed from the company he co-founded.

Yep - but this time he ain't coming back, not unless he has his brain in a jar somewhere... sorry that would be in an iJar I suppose.

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Trollface

Re: fear not

"All empires rise then dominate for a few years before........

They crash and burn!"

So Linus Torvalds is really Luke Skywalker? No that can't be right, after all the emperor is already dead.

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Coat

Re: Typical journo rubbish

What you say about P/E ratio makes no sense. That the P/E ratio is low is good isn't it? It means that the value of the stock is based on actual performance, not an inflated hyped up value that has no bearing to reality (compare with Facebook with a P/E of 111, even after its embarassing price drop).

Put it another way, if Apple were as hyped as Facebook, their share price could go up another 7x or 8x what it is now, even without any increase in revenue. Or put it another way still, most investors are rubbish at judging the true value of stocks.

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FAIL

Re: Typical journo rubbish

> most investors are rubbish at judging the true value of stocks

This might well be because after all the bailouts and crony stuffing of the recent years, there is so much loose money in the system and so few performing economic areas (people seem to be hoping that the next bubble will lift them out of the doldrums; well, good luck with that) that it sloshes towards anything which might promise a few additional percent of return. There is pensions to pay and there is interest to pay back. Well, good luck with THAT.

Just out of curiosity I checked the Dow Jones. It's back at pre-bust level... NOPE!

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Boffin

Re: Typical journo rubbish

Well, I am old enough to know that what you write could have been written back in 1999, 2001, 2003 and 2007.

While I do not think they can grow indefinitely, they have quite a lot of new kit up their sleeves, just waiting for the proper moment to come out.

As for SJ, the first time he left the company was a completely different story - the sales guy was in charge back then.

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Anonymous Coward

Re: fear not

Nah, the Sirius Cybernetic Corporation will have going to be the biggest in the known universe sometimewhen but they crashed and burned when it was noticed that their OSs never actually worked.

(With apologies to HHGG which did it all so much better)

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As an Apple fan I'd just like to say.....

Mwhahahahahahahaha!

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Mushroom

Re: As an Apple fan I'd just like to say.....

It was pretty clear at the time that Microsoft was hugely overvalued. And Apple and Microsoft aren't even close to in the same business. And it's also clear that Apple is hugely over-valued to the tune of at least 4 times.

"Mwhahahahahahahaha!" - I don't get this at all, it's market cap. Why would any customer give a toss about market cap unless they were sick in the head?

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Happy

Re: As an Apple fan I'd just like to say.....

Its called a sense of humor. I'm mostly laughing at all the people who told me when I got my first Mac in 2005 "Don't get a Mac, they won't even make those in a few more years"

And despite all of your attempts to be a killjoy, I'll enjoy a good gloat. After all the abuse we took over being Mac users we get to finally have a laugh. You fail at buzzkill.

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Pint

Re: As an Apple fan I'd just like to say.....

And Apple is laughing all the way to the bank. They got your money, but they don't have mine. I'll have the last laugh.

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Anonymous Coward

Re: As an Apple fan I'd just like to say.....

Being a fan of a corporation is bizarre, gloating over their market cap as if that has a bearing on the quality of their products is worse still. I like Apple products and own shares in them, but I'd be be embarrassed to make that kind of post.

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Headmaster

Re: "As an Apple fan I'd just like to say..." I think that you will find that the ones doing........

........the laughing are Apple and their major shareholders. Now, who might they be laughing at, hmm?

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Yes, Microsoft was overvalued back then...

But it doesn't follow that Apple is overvalued now. Look at the respective P/E ratios. Microsoft's was crazy high (well, crazy high by traditional standards, but by the standards of the late 1999 dotcom bubble it was only slightly high)

Apple's P/E is quite reasonable, especially when you back out it's current cash hoard, and is making enough profit to justify it's current valuation, factoring in some modest growth over the next few years - much less growth than they've had lately. If Apple had the crazy P/E that tech darling Amazon does its stock price would be about 13000!

Of course, a tech company is always riskier in the long run than an oil company. You wouldn't want to buy a tech company's stock and then not check prices for 10 years. But this would be a pretty reasonable thing to do as an Exxon investor. The risk of iPhone becoming obsolete (or smartphones as a whole) in a decade is much higher than the risk of oil becoming obsolete in a decade - hopefully we can obsolete it before it runs out...

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Re: As an Apple fan I'd just like to say.....

I listened to for years to.Microsoft talk about how it was Microsoft or nothing. Its not anymore.

Microsoft has no shortage of Fanbois.

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Meh

Re: As an Apple fan I'd just like to say.....

Yes, they got my money, and I got a well built, reliable product I enjoy using.

That's what a good company does. Whats your point?

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Paris Hilton

Re: As an Apple fan I'd just like to say.....

I really like the light switches and plug sockets in my house, they are very snazy. They have a retro 1950s roundedness to the corners and a satisfying clunk when you plonk a light on. You could say, that on many levels, they just work! Maybe I should find out who makes them so that I can become a fan of the company!

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It was pretty clear at the time that Microsoft was hugely overvalued.

lol. Comments from the Super-investor.

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Trollface

Re: As an Apple fan I'd just like to say.....

"They have a retro 1950s roundedness to the corners"

Are Apple aware of this unlicensed use of their designs?

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Re: As an Apple fan I'd just like to say.....

That's a point isint it - those old light-switches have both rounded corners and only one button on their face.

I've basically got twenty knock off iPhones stuck on my walls!

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Joke

Re: As an Apple fan I'd just like to say.....

If you'd been REALLY smart you'd hav bought a cheap winbox and invested the remainder in Apple stock. Now THAT would've been serious money by now.

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Thumb Up

Re: As an Apple fan I'd just like to say.....

"Being a fan of a corporation is bizarre"

YES!!! ABSOLUTELY SPOT ON. It's such an odd thing to do.

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Coffee/keyboard

Re: As an Apple fan I'd just like to say.....

Mac OS9

/me runs screaming from the building

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Linux

Re: As an Apple fan I'd just like to say.....

Win95, Win98, Win98SE, WinMe, WinXP, Vista, 7

/me runs screaming from the building

Funny? did not think so - lame? yes, just as lame as your comment ...

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Anonymous Coward

Electrical fittings

They're probably MK - mmm, shiny white, rounded-corner goodness...

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Coat

Re: As an Apple fan I'd just like to say.....

Windows CE, ME, NT

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Re: Electrical fittings

Of course - MK are the Apple of electrical fittings arnt they!

My consumer unit is Crabtree though I think - I guess thats like having a load of Macs connected to a Windows server aint it!

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Re: As an Apple fan I'd just like to say.....

The point is dear Dana.. they got so so so much of your money for so so so very little in return..

No matter how you justify it to yourself.. The reality is you paid too much for too little, and will do so again and again.

As a non anything fanboy All I can say is HEHEHEHEHEHEHEHEHEHEHEHEHEHEHE....

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Pint

Re: As an Apple fan I'd just like to say.....

"I listened to for years to.Microsoft talk about how it was Microsoft or nothing. Its not anymore."

All I remember was Microsoft giving Apple money because Apple were bankrupt, effectively. I've said it before and I'll say it again- MSFT/AAPL aren't in the same business.. Yet.

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Correction:

Highest valued PUBLIC company. Who know how much some of those private companies are actually worth. Also, let's not confuse "market capitalization" with "value", although I guess it makes for more sensationalist press.

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Re: Correction:

At least El Reg have got the terminology almost right, the BBC have been reporting all night that Apple has become the world's BIGGEST company, and size-wise I would not think that Apple are even close.

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Re: Correction:

Additionally, I've noticed how the BBC are massive Apple Fanbois where the tiniest piece of good news about Apple get major articles.

The BBC: faking impartiality for years...

Also, all it will take for Apple's stock to tumble is if the idiotic city investors stopped buying Apple stock because they think their own iDevices are better than sliced bread.

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Thumb Up

Re: Correction:

Although I did hear on radio 4 this morning that inflation adjusted IBM was much larger than Apple so they do at least try to build in some balance.......

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Silver badge

Re: Correction:

I did hear on radio 4 this morning that inflation adjusted IBM was much larger than Apple

(Talking about the BBC, where "much larger" means "larger market cap".)

I have no idea offhand what IBM's historic largest market cap is, but in the early '60s it was trading close to $600 a share, which in today's dollars is around $4200, according to my handy online inflation calculator. So that seems plausible.

Really, reporting "largest market cap ever" without adjusting for inflation is worse than meaningless - it's deliberately misleading. And taking it as a sign of historic success (rather than simply success relative to the current market) is stupid.

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Unhappy

All that says to me

is that we pay WAY TOO MUCH for petrol and Apple products.

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Trollface

Re: All that says to me

Hey, if you want a cheap plastic laptop, Dell is ready when you are.

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Re: All that says to me

Quite, my Dell works well (or it would without the crappy work enforced security software - not Dells fault), and cost a third of the cost of the equivalent Apple device. So, well done you for keeping up Apple share price - it's nice kit, but a bit overpriced for what you get.

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Anonymous Coward

Re: All that says to me @ Dana W

I can't help laughing that you paid twice as much as me for a laptop and yet......

You can't do twice as many things with it.

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Anonymous Coward

Re: All that says to me

They also do nice metal ones, and Dells usually place nice with "other" OSs ... ;)

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Anonymous Coward

Re: All that says to me

Of course Teletubbies-style plastic is OK if Apple do it, like the first MacBooks ;)

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Anonymous Coward

Re: All that says to me

There is no equivalent Dell, HP or Sony to an Apple Macbook pro - not one. You might find same cpu/mem/gpu, but Apple have engineered their mainboards so that you actually have "battery management" (as in you do not have to replace your battery every odd year, every four to five is good enough ), movement sensors and a lot of other little things. Then, you have BSDUnix with an easy to use ui and all the tools you could dream of, in there, ready for use ... like grep, sed, vi, dd, otool ... Mac OS X 10.4 feels more recent than Windows 7. Current Mac OS X is 10.8 ... You might prefer Wordpad and Notepad, your choice - MS Word cannot even format text properly when you delete stuff, it is always creative for you. Worse, even SAP employees, who use word a lot, tell me they have to copy paste text into notepad to get rid of the formatting then paste it back into word - I have not looked into it, tbh, but it sounds terrible. I did three months worth of their work in a day!

That, and when you open a macbook pro in a public place, heads turn ...

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Anonymous Coward

Re: All that says to me

Heads turn and say 'look at the twat with the macbook, thinks he's special because he overpaid for some shiny tat'

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Silver badge

Re: All that says to me

Apple have engineered their mainboards so that you actually have "battery management" (as in you do not have to replace your battery every odd year, every four to five is good enough ), movement sensors and a lot of other little things

As have other manufacturers. Battery life for my Dell and Lenovo laptops is close to the theoretical maximum for a LiIon battery - and what's more, I can replace them easily, using OEM or aftermarket batteries. My laptops all have tilt sensors and/or accelerometers and have survived considerable abuse (I've dropped the Lenovos onto hard surfaces plenty of times). And, yes, they call contain "a lot of other little things"; we call those "parts".

you have BSDUnix

Unixes of various flavors and Linuxes of various distributions are readily available for non-Apple laptops.

an easy to use ui

Subjective.

all the tools you could dream of, in there, ready for use ... like grep, sed, vi, dd

All of which I have on all my Windows machines, courtesy of Cygwin (and there are alternatives, so I have a choice).

Mac OS X 10.4 feels more recent than Windows 7

Subjective to the point of meaninglessness.

[random rambling about Microsoft Word]

Here's an idea: when you add sentences to a paragraph, try to make them relevant.

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Re: All that says to me

I fixed Dells, they overheated, the cheap sleeve bearing fans in my gaming laptops died again and again. Keys fall off, the plastic cases groan and squeak.

I had a dell go back for service SEVEN times. And yet the refused over and over to lemon it out . With Dell you get what you pay for. A poorly built, cheap plastic laptop, and the worst of India tech support.

I'll pay more for what I ACTUALLY get.

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Re: All that says to me @ Dana W

I can easily run three OS's. That seems sufficient.

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Angel

You mean

The Catholic Church is not the most highly valued company ever?

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Anonymous Coward

Re: You mean

It'd have to be in the running for the most highly valued PRIVATE entity, but the post was about PUBLIC companies.

In the case of the Catholic church, unless they reinstate indulgences, there's really no other way of getting a return on your investment.

/joke

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Devil

Re: You mean (way OT...)

> In the case of the Catholic church, unless they reinstate indulgences, there's really no other way of getting a return on your investment.

Bingo! http://freethoughtblogs.com/dispatches/2012/05/02/catholic-church-allows-indulgences-again/

Apparently the RCC has decided that the wages of sin is not death after all. You just get a bit of a beating.

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