The following is an excerpt from BRETT ARENDS | September 12, 2012 | Smartmoney.com |
Apple’s new iPhone 5 — to be unveiled Wednesday in San Francisco — will have a longer screen. It will have LTE technology for faster data downloads. And it will be packed with vitamins and nutrients to give you hours and hours of energy.
No, wait, that’s the 5-Hour Energy drink.
All right, I give up. I don’t know what’s in the iPhone 5, or the alleged iPad Mini, which may also be unveiled. And I don’t care. I don’t own any Apple (AAPL) products (the upkeep on our MacBook Pro became so prohibitive that, like a country club membership, we had to give it up). I seem to be alone. I look around and all I see are people tapping away on their iPhone screens, oblivious to the world around them. In a coffee shop recently I saw a group of young friends sitting next to each other, ignoring one another, tapping away.
But although I remain immune to the iMania, I can hardly ignore the company. None before has been this successful, ever.
Apple stock hit a new high of $680 on Monday; it closed at around $660 Tuesday. It is already by far the most valuable company in history. The market value is $620 billion. It has nearly doubled since the late Steve Jobs stepped down as CEO in August of last year.
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