Apple stock (AAPL.US) is soaring again on Monday, smashing through the $500 barrier for the first time ever. It took the company 38 years from the IPO to be in the $1 trillion club, then less then 2 years to be the first $2 trillion stock and then it added more than $100 billion on Friday alone! Apple is surging as markets expect Fed to propel stock market higher but the price to sales ratio for the company is now above 6 vs around 3 for the past decade.
Apple is doing the heavy-lifting the whole US market. The company is responsible for nearly 50% of August gain of US500 and over 60% of US100!!! Both indices are trading at their all-time highs.
