Apple: Worth 600 Instagrams.
One day after Silicon Valley got all breathless about the $1 Billion (yes, I capitalized that) Facebook deal to buy Instagram, Apple proves that it's still one-upping the rest of the tech industry by shooting its stock value into yet another milestone stratosphere.
Apple, as of this morning, hit the $600 billion market cap level. A largely psychological milestone, yes, but in light of all the criticism about Foxconn, iPads that heat up, and just flat out having a super high stock price, it's impressive that Apple can keep climbing.
Investors love the company, likely because they see more and more people switching to Apple devices. Ipads, iPhones, and iPods are all ubiquitous. They used to be cool -- now they're flat-out everywhere. It's like what Warren Buffet said about investing in stocks: Buy what you know.
By now, everyone knows Apple. That's impressive, and it's making investors a lot of money.
Scott is on Twitter: @scottbudman.