Half a trillion dollars.
With a little up move after hours, Apple now has a market capitalization of $500.1 billion.
The stock is now at yet another all time high. After rallying $9.65, or 1.8%, to $535.41 in the regular session – closing at the high for the day and giving the company a market cap of $499.2 billion – the stock has inched up another 96 cents after hours to $536.37. That’s just enough to push the stock’s market cap to the north side of a half trillion bucks.
The stock is now up 32.4% for the year to date.
Apple now has at least twice the market cap of all but three other U.S.-listed public companies:
The Street‘s mean analyst target for the stock is $572.10; the median target is $600; the highest target on the Street is $700.
To get to a trillion dollars, Apple’s shares would have to hit $1,073.
Maybe by that point the company will be paying a dividend.
Update: I would note that Apple is in rarified air here, but it is not the first company to cross the $500 billion level; PetroChina, Exxon, Microsoft, General Electric and Cisco Systems have all visited this neighborhood before; but note that none of the others were able to hold above the magical half-billion mark. (PetroChina at one point had a valuation north of $1 trillion.)