Why is Apple stock so high?
Apple stock has surged to record highs on Friday, but the stock is far from a panacea.
In the last 24 hours, Apple has posted a net loss of $2.8 billion, a steep increase of $1.8 from last year, according to data compiled by Bloomberg.
The stock is up nearly 6% on the day, but it’s a far cry from the $8 billion it reached in December when it sold off nearly $3 billion in assets.
The stock has since rebounded somewhat, but that’s hardly an improvement from last December when the stock was trading at $7 billion.
The problem is that the Apple stock market isn’t quite as transparent as it could be.
In order to get a complete picture of the company’s financials, the SEC requires the company to disclose quarterly earnings and sales.
For most companies, it’s an exercise in futility.
In fact, the stock has gone through a period of decline, according the SEC.
In October, Apple’s quarterly earnings reported a loss of 3.3%, a record low for a quarterly loss.
By November, it was down 4.7%, and it was a whopping 6.3% in December.
In recent weeks, however, Apple reported solid results, with a profit of $9.4 billion.
Those numbers weren’t quite good enough to be included in the SEC’s quarterly loss report.
That’s not to say Apple doesn’t need to get more transparency.
The company’s shares are trading at a premium.
Apple shares have climbed nearly 25% in 2017, and they’re currently trading at over $140 per share.
That’s a price that can’t be sustained, and it’s certainly not a good look for investors who want to make sure they’re getting a fair deal.