Apple Stock Closed Above $500 in the Stock Market Today

Apple posted its 7th consecutive positive day and closed above $500 per share for the first time in the stock’s history at $502.60. Just last week Stock Market Today stated that the move above $500 per share inevitable. We mentioned its low P/E ratio (profits to earnings ratio). If you look and compare it is trading at a P/E under that of stocks like Kelloggs or Coca Cola. Apple (AAPL) continues to blow past estimates and outperform.

Apple Stock Growth

Apple’s growth potential is no where near maximized either. The Ipad 3 is due out in March. There are improvements to Siri in the pipeline. Apple’s plans for ITv have yet to be fully unveiled. The Apple MacBook Pro is suppose to be redesigned late in 2012. Even when the company is served with bad news, example the recent China labor controversy, the company spins a positive solution and a positive stock price for the day. Last Friday was the US stock market’s worst day of the year. Oh, did we mention that Apple stayed in positive territory that day? Also, it is estimated that Apple has 100 Billion dollars in cash reserves. This has triggered rumors that Apple may be heading for a dividend. If they don’t go to a dividend, the cash reserves could surpass 200 Billion sometime in 2013. What about a split? For those just realizing that Apple is a must have and should be added or increased in your portfolio but you are waiting for a significant pull back chances are you may have waited a bit too long. Yours truly was hoping for a pull back at $340 a share.. see what I mean?

Apple Experience

Here is a little personal story for you. On a recent visit to my local Apple store, I had some time to kill and looked at AAPL on my Iphone while waiting for my turn to be serviced. Despite 30 or so employees franticly working the floor, I had to wait a few minutes to purchase a nano. I thought to myself, I actually have to wait to spend my money at Apple. I looked across the hall at the empty $200 per pair of jeans store and it was crystal clear where I should spend and invest my money.

Last updated by Jim Evering at March 7, 2012.