On Friday, Apple's total stock market capitalization surpassed that of Microsoft and Intel combined!
In 2000, the combined market cap of Microsoft and Intel was over $1 trillion. Apple was valued at less than $5 billion at the end of that year. Apple was priced at $317.6 billion on Friday. Microsoft had a market value of $201.6 billion and Intel was $115.2 billion ($316.8 billion combined). The chart below shows it the history in graphic detail.
Another way to look at is that Apple has increased in value by more than 60-fold since 2000. Microsoft and Intel have lost over two-thirds of their value in the same period. Actually, Microsoft and Intel lost most of their internet bubble value by 2002 and they have been treading water in stock price since that time.
This is reminiscent of the story about RCA stock during the radio bubble. RCA (the old Radio Corporation of America) was the high-flying stock of the Roaring 1920's. It was the leading company in the emerging "wireless" communication for the masses era. The stock appreciated almost 10-fold between 1924 and 1929. An investor who purchased RCA at its 1929 high had to wait 57 years to recoup their investment. That is a long time. I hope the same is not true for the Microsoft and Intel investors of 2000!
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