Apple could become the most valuable company in the world, but first it will have to gain $47 billion in market cap value versus Exxon.
Sounds daunting, but last November Apple’s market cap was $79 billion less than Microsoft. Today it’s $52 billion greater.
Of course, the growth of Apple’s value can contribute to the decline in Microsoft’s value. The two are rivals. What’s good for Apple is bad for Microsoft.
Exxon, on the other hand, does not get hurt if Apple is doing well. For Apple to beat Exxon then, Exxon will have to tank on its own, and Apple will have to grow on its own.
What are the odds of it happening? Pretty good, actually.
For the year Exxon’s stock is down approximately 10%, and famed hedge fund trader Jim Chanos is short Exxon’s stock, thinking its due for a collapse. Meanwhile, analysts can’t raise their price targets on Apple high enough.
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