Article: Reaching 500

Earlier today, Apple’s stock hit the $500/share mark. While that number itself is rather arbitrary (we didn’t have a post when it hit $400/share, and we’re not going to have a post when it hits $600/share), it has gotten me thinking about the rollercoaster that has been Apple’s stock over the last few years, and how high it can go.

Just a year ago, AAPL was at $354.54/share, and two years ago, AAPL was at $195.12/share. While the rise has looked steady in that regard, the price was only $7.22/share in late April 2003 (taking splits into account), and $3.28/share in December 1997. Obviously successes like the iPod, iPhone, and iPad have helped Apple make money and this has translated to a rising stock price.

In honor of the Apple’s successes and looking back at the bad times, I thought I’d pick my top 5 favorites related to company health and stock from The Mac Observer‘s Apple Death Knell Counter:

12/30/2004: “Apple Computer releases two new handheld devices in an attempt to follow up its iPod mega-hit, but they fail to gain traction. iPods begin stacking up at electronics stores when it is discovered that, after a Christmas buying frenzy, there are now 2.7 iPods for every American over the age of 6. Apple turns to Philips Electronics for a bailout and is sold to the Netherlands-based consumer electronics giant for $80 a share.” – John D. Markman

6/12/2003: “Apple clearly has great customer loyalty. But they just can’t compete with Microsoft and Intel,” says one fund manager who asked to remain anonymous, calling Apple “a classic example” of a company on the losing end of long-term competitive pressure. “It’s been a value stock for a long time. I think we made the decision a long time back on sticking with winners,” says the manager.

9/5/2011: “So why am I here relaying my bearish thoughts on Apple yet again? Because, basically, nothing has changed over the last nine months. That is, beyond Apple seeing greatly decreased sales while ringing up copious losses. Moreover, the company’s competitive positioning still has the company as nothing more than a niche player fighting for its survival in the mean world of PCs.” – Phil Larson

5/21/2001: “I give them two years before they’re turning out the lights on a very painful and expensive mistake.” – David Goldstein on Apple’s retail stores

10/6/1997: “I’d shut it down and give the money back to the shareholders.” – Michael Dell