Apple at $1,000,000,000,000? Jay Yarow is on it!
Apple’s stock is once again on a tear.
It’s up 48% this year, surging past a $700 billion valuation.
It’s a stunning reversal for the company. In April 2013, Wall Street had given up on Apple. The stock was less than half what it trades for today.
People thought the iPhone was done. They thought Apple was doomed. The New York Times was comparing Tim Cook to Steve Ballmer.
I know, I know. The proto-typical Business Insider pose: the bluster, pretending they knew and you knew and damn the haters.
Ignore it. Pageview journalism requires such nonsense.
Here’s the thing about Apple at a trillion: the iPhone was the perfect product at the perfect time. That’s why all of Apple’s “innovation” the past 7 years has been, Microsoft-like, to do everything they can to extend the iPhone ecosystem. iPhone prints money. The Steve Ballmer – Windows playbook is exactly what Tim Cook is doing with iPhone.
This is very smart.
The second bit about Apple at a trillion is this: stop the whole lie about “Apple doesn’t think about profits or sales or making money. Apple is only interested in building great products. If Apple builds great products the money will take care of itself.”
This is not how the world’s biggest corporations ever think. This is not how Apple thinks. Apple did not Willy Wonka its way to a $700 billion valuation. Mock those who suggest otherwise.