Since Steve Jobs left his post as CEO of Apple, the stock has taken off, rising 10%. Somewhat surprising, since you would think the stock would tank after the company lost its visionary leader.
Apple is trading at an all time high, closing today at $413. The company’s market cap is $390, and it will soon be over $400 billion, giving it a very good chance to be worth more than Google and Microsoft combined.
But, the Jobs situation was hanging over the stock, keeping it in a holding pattern. With him out, that uncertainty is out of the way.
Also holding the stock in check — the company deviated from its normal pattern by not releasing a new iPhone this summer. The next iPhone launch is expected in weeks, which is getting investors excited.
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