Even Apple Haters Love Apple Stock

Yesterday, Apple became the first U.S. company to close with a market capitalization above $700 billion (currently sitting at $711 billion), Tim Cook credited its success to its ability to sell pricey products to Chinese consumers and ignore commonly accepted beliefs about big companies. In Apple’s most recent quarterly earnings report, it shattered a world record in terms of profit in a single quarter earning $18.04 billion, much of that profit being associated with the 74.5 million iPhones sold.

Despite the mounting negativity that surrounded Apple over the past few years, especially once Steve Jobs died, the company has continued to push forward under the leadership of Tim Cook. Each iPhone launch has been more impressive than the last, while iPad sales have been slowing they are still selling a ton, the Mac’s are top of the line — some of them are even being manufactured in the U.S., and of course, the upcoming Apple Watch. At this point, I think one thing is abundantly clear: this is Tim Cook’s Apple now and that’s not a bad thing.

I bought some Apple stock several years ago when the price per share was $245. I’ve been holding it ever since. And it’s days like today when I’m glad that I didn’t sell when it reached the $700 mark per share. Now with that 7 to 1 split, let me just say, I’m sitting pretty, very pretty. My overall return to date is around 257 percent.

Between the insane capital gains and Apple’s generous dividend policy, why would I sell? Why would anyone sell? It’s a best of both worlds situation. Plus, it appears Apple will be returning more cash to shareholders soon according to one report.

If you ask Mr. Cook about Apple’s massive $178 billion cash pile he has this to say, “By and large, my view is for cash that we don’t need, we want to give it back, we are not hoarders.”