
Apple is first public company worth $1 trillion - madradavid
https://www.bbc.com/news/business-45050213
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al_ramich
well done to apple. Great design, great product and they found an impressive
way to sale in hundreds of millions. I suspect that in 10 years we won't be
using phones much so it will be interesting to see what direction Apple takes
with the emerging tech (AI, Virtual Assistants, VR/AR). In each of these, they
seem to be behind the competition.

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qubex
Which is interesting, because at its most fundamental the value of a firm
should be no different from the net present value of its future dividends (or
other monies payable to the shareholders). These are the most fundamental of
‘fundamental’ valuations. Presumably (assuming the Efficient Market Hypothesis
or some approximation thereof) investors are convinced that those discounted
earnings will be forthcoming, whichever the successor technology may be. This
in turn implies they (in aggregate) have faith in Apple’s ability to develop
and bring to mass-market at premium prices whatever comes next for several
generations.

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al_ramich
yes, perhaps. Much of that belief is based on the track record. Which in
Apple's case is impressive but most of their products are derived from a
similar concept which will run its course and will fundamentally change due to
tech and user habits. You can easily imagine in the near future (which is also
supported by many studies) most information being channeled through virtual
assistants with visuals being handled through augmented reality so no need for
screens, phones, watches, TVs... I imagine Apple is already investing heavily
in all of these but all talk in on the latest release of an iPhone.

