Apple nudges past $3 trillion, for a brief shining moment

Apple’s market cap popped its head above the $3 trillion mark yesterday, for a brief shining moment. As of this writing, Apple’s share price dropped back down to $181.72 per share, which translates to a market cap of $2.98 trillion.

Having lived through the days when company CEOs suggested Apple pack up their stuff, sell their inventory, and recoup as much of their losses as possible, this is a head shaking, gobsmacked turnaround of epic proportions, doomed to market dominator, all started by the decision to buy NeXT and bring back Steve Jobs. That deal was finalized in February 1997, almost 25 years ago.

When Apple first went public, Steve had about 11 percent of Apple’s stock. A simplistic valuation would have that chunk worth about .11 x $3T = $330 billion. Elon Musk, the richest person in the world, is worth $304 billion.