Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Apple (AAPL) actually is down after that last flush of heavy selling in the past 30 minutes, a shocker in and of itself in 2012. Still its a minor flesh wound of -0.3% at the moment. Earlier in the morning the stock hit the magical $600B valuation, only the second company in U.S. history to do so – the other being Microsoft in 1999. Ironically, as Apple teetered on the brink Microsoft actually gave the company a loan to survive, many eons ago. Talk about full circle!
To put in perspective, Apple crossed the $500B level just six weeks ago. This is an epic run, and one many will remember for decades to come simply due to the size of this company and what sort of metrics it is achieving. However, once it reverses and consolidates it’s going to create very tough going for the NASDAQ.
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