BUSINESS

Apple is literally an ATM

TAGs: Apple, gold, stock market

Apple GoldIt might not be long until Apple starts to remake its whole range airbrushed with the color gold such is its stock right now. First it was revealed that they’d become the world leader in smart phones. Not really a surprise to many. Then the application medium they created, the “app,” started to outsell McDonald’s burgers and trust me – Ronald McDonald is a hard guy to defeat. Just ask Morgan Spurlock. Now they’ve reached the pinnacle.

Last night, on Wall St, the company’s shares briefly overtook those of Exxon Mobil to become the most valuable in the world. Gold is quaking in its heavy boots. The electronics firm saw its shares swell to value the company at $346.7bn just before the closing bell. That was around $5bn above Exxon who, thanks to a last minute surge, finish around $1.6bn ahead of the California-based firm.

Exxon’s biggest liability, crude oil, is falling quicker than a hooker’s knickers and it could mean Apple becoming the world’s most-valuable company in a couple of weeks. It really would be able to stand toe-to-toe with gold at that point.

Apple and the aforementioned commodity are both up by 45% over the past year and that outpaces the entire market by some margin. How much gold can you get for some Apple shares though?

That would five Apple share to one ounce of gold and it may explain why Ashok Kumar, analyst at Rodman and Renshaw, said Apple “is literally a cash machine.”

That will be justification, if they needed it, for the many mobile gaming industry firms that show such a preference towards Apple and developing content for their devices.

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