Apple's shares break the $500 barrier, on the way to a trillion dollar company?

phonearena

Despite fair labor disputes at its supplier factories and suggestions that the iPhone 4S won't sell as well as before due to being housed in an iPhone 4 chassis, Apple keeps on breaking sales records and it gets reflected in the share price.

It broke the $500 psychological barrier today, lifted with the broader market thanks to the Greek rescue relief, and now one Apple share costs more than a basic iPad 2.

A lot of analysts believe that the stock is still way undervalued for the performance that Apple is delivering, as it only sells at 14 price-to-earning ratio at this price. Compare that to Amazon, for example, which sells at 137 P/E, and made only quarter of a billion in Q4, dwarfed by Apple's nearly $7 billion in pure profit.

Still, investors were weary about the passing away of an inspirational leader as Steve Jobs, but apparently his legacy and product pipeline will ensure Apple's well-being for quite some time, and now the bets are whether Apple will become a trillion dollar company in a few years, as today it stands close to $500 billion already.