Apple hits historic 11 times sales valuation ahead of Tim Cook's final earnings call as CEO

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โดย Benzinga·Read original

Summary · why it matters

Apple's valuation has reached an unprecedented 11 times its sales revenue as CEO Tim Cook prepares to oversee his final earnings report. The stock touched an intraday all-time high of $334.99 on Friday, July 17, briefly making Apple the world's most valuable company with a market valuation of $4.88 trillion. Investor optimism around artificial intelligence and a revamped Siri have driven the surge, with market strategist Charlie Bilello noting the valuation is the highest in company history. BofA Securities analyst Wamsi Mohan called the upcoming July 30 third-quarter earnings report the "end of an era" ahead of hardware veteran John Ternus taking over as CEO in September, while reiterating a Buy rating and a $380 price target. AAPL shares were up 20.13% year-to-date and closed 2.14% lower at $326.59 on Monday.