It took a few days, but Apple’s blow-out quarterly earnings report — driven by strong iPhone and Mac sales and bolstered by the largest stock repurchase program in the history of capitalism — has finally made its way through Wall Street’s algorithms and into Apple’s share price.
The stock closed Thursday at $104.83, up 1.8% for the day, 7.2% for the week and 50% from April 2013, the cruelest month, when it dipped into the high 300s.
Speculators who bought a lot of calls in September 2012, when Apple was approaching an intraday high of $705.07 ($100.72 post-split), will never get their money back.
But investors who held on to their shares through the rout of 2012 and 2013 are back in the green.
Apple is now not only the world’s most valuable public company, but it has left the nearest contenders in the dust. The top four market caps:
Apple: $617.9 billion
Exxon: $401.4 billion
Microsoft $371.0 billion
Google $369.0 billion