Apple stock briefly touches $600, now worth more than the rest of the US retail sector combined
In today's edition of "Wacky comparisons for Apple's market cap", the tech giant's shares multiplied by current price give a sum that is more than the rest of the US retail sector combined.
Not only that, but Apple's stock briefly pierced through the $600 barrier today, and Wall Street is all puppies and flowers for its future direction, to the tune of $1000 a share. Normally Warren Buffet's moto "Be greedy when others are fearful, and fearful when others are greedy" applies fully in such situations, but Apple's stock was just undervalued if we looked at its EPS multiple.
On the eve of the new iPad launch tomorrow, Apple has all the prerequisites to shatter another sales record, we should know pretty soon. The only thing that can stop the tablet's march to glory is insufficient high-res display supplies, but Sharp and LG are said to restore capacity as early as next month.