Thursday, August 2, 2018

Apple Market Cap

I didn't follow the markets too closely today, but I saw that Apple's Market Cap hit 1 Trillion dollars, or $1,000,000,000. Market Cap = # of Shares Available * Stock Price. It was nice to see my Robinhood Portfolio go up in value, instead of down in value. I have both stock and a call option in Apple, which both saw their value go up today.

There's a lot of hype and excitement right now, but Apple could easily drop back under $200/share, even back under $190/share. When stocks go up in value, people take the profits and run, which is a smart play. If enough people/companies/trading computers take their profits (sell the stock), the stock price will go down.

Like I've said before, long-term, I believe Apple stock price will keep going up alone due to the stock buybacks. All of my family members and co-workers have iPhones, and I just don't see Apple going anywhere.

Tomorrow is Friday, which means the stock could stay high due to traders wanting to end the week high, but I'm completely ready for the stock to drop again before eventually staying above $200/share permanently.

(This isn't stock guidance or advice, these are just my thoughts.)

Thanks for reading,

Signed,

Mitch

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Thanks for your thoughts!