Apple Now Bigger Than Citi
I had to pass this along, as it is so revealing about oh so many things: As of today's close, Apple (AAPL) is considerably larger than Citigroup.
Market Cap: 135 billion versus 115 billion.
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Apple vs Citigroup, Two Year Weekly Chart 
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Related:
Citigroup's Market Value Drops Below Apple's Amid Credit Crisis
Connie Guglielmo and Bradley Keoun
Bloomberg, April 12 2008
http://www.bloomberg.com/apps/news?pid=20601087&sid=aYDmSu.TmOrU&
Wednesday, April 16, 2008 | 04:15 PM | Permalink
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Comments
Is this the sign of the end time?
Posted by: Kp | Apr 16, 2008 4:31:11 PM
IBM blow-out earnings!!!!
IBM is knocking the cover off the ball and putting the final nail in the bear coffin.
IBM hit the ball out of park and raised the guidance to "at least $8.50".
Barry, you better cover ASAP.
Posted by: Karl Denniger | Apr 16, 2008 4:36:08 PM
Before anyone gets too carried away on IBM, keep in mind that a lot of its profit is in services and has long cycles. If you look back to the tech wreck for example, you'll see it outperformed well into the downturn, and underperformed well into the recovery.
Posted by: Estragon | Apr 16, 2008 4:50:02 PM
And soon enough the Energy sector will be the largest sector, taking over the financials :)
Posted by: TraderMD | Apr 16, 2008 5:06:23 PM
Yippee for IBM...they will have 25% of their workers in India by 2010. I guess that's how they can project earnings out to 2010...and if they look like they will miss, fire more Americans and hire Indians.
Posted by: Steve Barry | Apr 16, 2008 5:36:58 PM
Fun facts...this is the 19th straight trading day since the March lows that QQQQ volume was under its 100 day MA. VIX closed at low for 2008 and would have to rise 80% to hit the last high. Euro and oil right at or near records.
This rally is false to be sure.
Posted by: Steve Barry | Apr 16, 2008 5:46:25 PM
Hmmm...Apple makes stuff. Not stuff that I particularly care about, but my teenage son certainly does.
What exactly is it that Citi makes?
Apple should be more valuable than Citi. Maybe this is not a sign of the end times, but a sign of a return to sanity. Apple makes stuff that people want to buy and is more valuable than Citi that tries turning subprime/siv/cdo/mbs lead into gold. Yes, this is good.
Posted by: DonKei | Apr 16, 2008 6:33:04 PM
The post by "Karl Denniger", I beleive to be a false post. Karl is not bullish at all right now.
Posted by: B.B. | Apr 16, 2008 6:38:07 PM
"What exactly is it that Citi makes?"
Bad loans!
Posted by: Jon H | Apr 16, 2008 7:38:05 PM
Apple will soon follow the path of Citi with their one hit wonder iPod.
Posted by: Owner Earnings | Apr 16, 2008 8:05:17 PM
What would Apple be right now had Sculley followed Jobs' vision rather than fire Jobs and try to beat the PC clones at their price point?
Posted by: wunsacon | Apr 16, 2008 9:41:54 PM
"What would Apple be right now had Sculley followed Jobs' vision rather than fire Jobs and try to beat the PC clones at their price point?"
Jobs' time in the wilderness, building Pixar and facing adversity in trying to build NeXT, probably did him a world of good - experience that might not have been possible had he stayed cozy at Apple.
Posted by: Jon H | Apr 17, 2008 1:51:58 AM
