My good friend, Scott Krisiloff, over at Avondale has a great graph on Apple, comparing its Market Cap & Enterprise Value to some other crappy, more mortal companies:
With $AAPL now trading at just a little over $400 per share, the enterprise value of the company (market cap less net cash) has shrunk to levels which value the company at around the same price as three of its most comparable competitors: $GOOG, $MSFT & Samsung. On a market cap basis, Apple still looks like it’s worth significantly more than its competitors, but that’s mostly because the cash pile is so unfathomably large that it skews the whole market value of the company.
Does Apple the enterprise deserve to be worth less than Google, a company that does 1/3 of it’s revenue? Only time can tell.
What say you, fine reader?
Personally, I love stuff like this; stuff that makes you think. And, what’s great about Scott is that he’s always exploring. Visit his site for a ton of other goodies.