Apple hit a record high market value above $700 billion. Two years ago it stole the crown as the world’s most valuable company. The recent acceleration means that Apple has increased by the equivalent of the next 15 names on that list ranked by market cap. Investors must be asking whether history will repeat itself.
With Mario Draghi’s ECB threatening additional stimulus plans at the Jackson Hole stage last Friday, stock investors are pushing the envelope on valuation and have driven the S&P 500 index above 2,000 for the first time.
Despite an uncomfortable ride for GM stock, which is higher by 10¢ at $34.45 as of the time of this writing, the weight of evidence suggests investors expect better times for the company once the interruption has passed.