Exxon-Mobil and Apple

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Since my last post less that 2 weeks ago, AAPL has added another $40 billion in market cap to be over $760 billion right now.

That would allow the 4th largest U.S. oil / gas company to slide under and join the 3 largest as having a combined market cap less than that of Apple. That's Exxon-Mobil, Chevron, Conoco Phillips, and Occidental Petroleum. Another $2 or so worth of run for AAPL and we could throw in EOG, the fifth largest, as well.


EDIT: I meant to add that the really crazy thing is that, based on Apple's performance and financials and reasonable expectations, that valuation for Apple is not at all whacky. Of course, there's plenty of room to argue that Apple faces significant challenges going forward or that it will stumble in coming months and years, where a much lower valuation would be justified.
 
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Tilted

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CNBC is reporting that Apple is going to be added to the 30 companies tracked by the Dow Jones Industrial Average, replacing AT&T.

It's not a huge thing, but it has some symbolic value (and some substantive effect when it comes to the stock price, just not a lot).
 
Tilted

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With its reporting staggering results for another quarter yesterday (its FY 2015 Q3), Apple seems certain to post the largest annual profit of any publicly-traded private company in history. It will probably have around $54 in profits (that's after taxes) for FY 2015. That would surpass what Exxon-Mobil did in FY 2008, even adjusted for inflation. Think about what drove Exxon-Mobil's profits so high that year.

This company continues to amaze in so many ways. Some of the things it's been able to achieve, and that it's continuing to do even in the face of substantial headwinds, are mind-boggling. I'd also note that it now has a $200 billion plus cash pile, with more than $180 billion of that offshore.

Hey, U.S. government, isn't it about time that we let them - and others in similar situations - bring that money (or much of it) to the U.S. without us demanding that they pay a huge chunk of it into our treasury for the privilege of being allowed to bring it here? Wouldn't our economy benefit from them being allowed to put more of that money to better use here? Or, return more of it to shareholders which would (1) mean more taxes paid into our treasury anyway and (2) more money in the hands of people that might themselves put it to use further stimulating our economy? God we have nonsensical, not to mention vile, tax policy. Sooner or later we are going to have to abandon the concept of extraterritorial taxation. In a global economy, where operating in a greater variety of places is more viable, it represents too much of a discouragement for businesses to operate in the U.S. - for them to headquarters here and employ additional people here. There's no way around that reality. We'd be better off if we accepted it sooner rather than later, but we seem to like learning our lessons the hard way.
 
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