Apple catching up to HP and Dell
Posted by Helper Monkey
MacMischief is reporting that due to Apple’s 90% stock price increase this year, the once beleaguered company is now no more than a stone’s throw away from rivals HP and Dell in terms of market capitalization.
â€? With its recent stock price closing of $59.95 per share of stock, Apple Computer Inc. now has a market capitalization of $49.8 billion. After years of being only a fraction the size of rivals such as Dell and Hewlett-Packard, Apple now appears within striking distance of both companies ($72.3 and 82.5 billion, respectively). Apple’s stock has been on the rise due largely to the continued success of both its iPod and Macintosh product lines.
We are too lazy to investigate this, but it sounds perfectly cromulent to us. From what we remember from business 101, a company’s market capitalization is the result of its total shares outstanding multiplied by its share price. 830 million shares X $60 = $51 billion.
