Today can be a turning point for consumer technologies giant Apple Inc. as they took over the second position based on market capital around the world. This achievement however is not a big surprise if you take a look at the company’s market chart for the year of 2010. Apple Inc. has been increasing its value pretty much parallel to NASDAQ composite index.
However, it is also interesting to see how big a of a brand name the company created for themselves. This is very crucial as even their antenna defected Iphone 4 didn’t cause any harm to company’s stance in the market. Consumers continued to buy the Iphone 4 no matter what, even forgetting without a case the decide could not fulfill its very basic duty, being a phone. I think this case shows us that the confidence that the company created for its users as they believed the problem will be fixed without a big hassle and cost.
From a financial stance, it is going to be interesting to see how Apple Inc. will deal with its new resistance level 290$ – 295$. Personally i think they will even break 295$ per share in the Q4. I would personally suggest to start selling shares if Apple Inc. ever hit 300$ which will create a 42% growth for the overall year of 2010. I think it is a fair amount of profit to make and it would be wise to watch how the market will react and follow the automated profit sales as most portfolio owners would like to pull out before the company’s share fall to a it is real value after this incredible growth.