Last week Apple made headlines twice. On Monday it broke the world record for shareholder value. Apple’s $623.5 billion market cap beat Microsoft’s record from tech’s notorious bubble era. (Microsoft needed a price-to-earnings ratio of 72 in 1999 to set the record. Apple’s ratio is a modest 16.) Then on Friday, Apple won a $1.05 billion patent-infringement judgment against Samsung, the Korean electronics giant and the maker of the Galaxy line of smartphones that stirred Apple’s ire.
Congratulations, Apple – twice. But these two coinciding events should give us pause.
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