Another 2% And Apple Worth More Than Entire US Retail Sector

Apple now stands less than $14bn or approximately 2% away from being worth more the entire US retail sector after a 1% move to $558 today.

While it is certainly inconceivable to the rest of us, another 2% move upward in Apple’s stock price and the company will be worth more than the entire US retail sector.
That comes after Apple took over the value of the entire semiconductor sector earlier this year.
Still that didn’t raise a red flag and neither did today’s move within striking distance of taking over the retail sector.
Perhaps Wall Street may have caught that irrational exuberance bug once again,  you know the one they caught that caused the Great Financial Collapse of 2008.
But for now let’s surmise that the hedge funds on Wall Street are so damn smart that they have been granted an exemption to  laws of physics that the rest of universe is bound to obey.
For now we can just continue to pretend that Apple could possibly be worth more than these sectors because that iEconomy of theirs affects a huge portion of our stock market.
Let’s keep our fingers crossed that Wall Street’s iFantasy doesn’t come undone anytime soon because if it does the entire US economy is going to experience on hell of an iCrash
Via  Zero Hedge:

As Apple gaps open by another 1% at $558, it stands less than $14bn (in market cap) away from being larger than the entire US retail sector. The good news: it still has a ways to go before eclipsing the retail and the semi sectors combined.

Stock Chart: Apple stock value vs that of the entire US Retail and Semiconductor sectors

Chart: Bloomberg