Apple’s stock fell Wednesday along with a sharp sell-off in the broader market as investors, with the election behind them, dumped stocks and turned their focus to a world of problems – tax increases and spending cuts that could stall the nation’s economic recovery and a deepening recession in Europe.
Apple’s stock has hit a new high after a four-month swoon, as investors were looking ahead to the release of a new iPhone model, and possibly a smaller iPad.
Only one other company has been worth $600 billion—Apple’s old sparring partner Microsoft Corp. It reached that valuation for 13 trading days around the turn of the millennium, at the peak of the technology stock mania.
Facebook says it has 843 million monthly active users, but getting a read on how many people actually visit Facebook’s site every day is considerably more complicated. Ultimately, some experts have said that that could mean the company is over-valued.
Hoping to harvest some fresh cash, the online game company behind “FarmVille” said Friday that it plans to raise $1 billion in an initial public offering of up to 100 million shares.
Investors seem to think you want an iPad more than oil, as Apple Inc. became the most valuable company in the United States, surpassing Exxon Mobil Corp. on Wednesday.
Apple briefly surpassed Exxon Mobil on Tuesday as the nation’s most valuable company.