Tags: apple | one | thousand | dollar

Apple Isn’t Only Company Flirting With $1,000 Share Price

Friday, 06 April 2012 07:24 AM

Apples shares are trading around $633 per share, on track to hit $1,000 a share as the company grows on demand for its popular computers, smart phones, tablets and even talk of a television set to roll out.

Despite the media coverage, other companies are on track to hit the $1,000-per-share price as well.

Priceline, Google and Intuitive Surgical are also battling to be the first Standard & Poor's 500 stock to break the $1,000-a-share barrier, USA Today reports.

"It's the new ego boost, to get a stock to $1,000," says Jon Johnson of StockSplits.net, according to the newspaper.

Priceline is the closest, with shares trading at around $756.

Take $1,000 a share with some skepticism.

Stock price alone doesn't indicate how expensively or cheaply valued a company's shares are, plus the market could tank and end the race for all of them.

Companies not listed on the S&P 500 have already passed $1,000, including Seaboard, now trading for $1,900.

Apple generates the most headlines due to its sheer growth potential.

"Apple is growing its earnings vastly faster than the market as a whole," Henry Blodget, a former equities analyst and CEO of Business Insider, writes in a recent Yahoo's The Daily Ticker column.

Furthermore, Apple's products themselves have room to grow.

"Macs, for example, still make up only about 10 percent of PC sales worldwide. iPhones, meanwhile, are only about 20 percent of the exploding global smartphone market, which itself is growing extremely rapidly. And Apple dominates the tablet market, which is still in its infancy," Blodget adds.

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