First Apple overtook Exxon as the biggest company in America. Now its market cap just hit 75% of the market cap of the entire European bank stock index, reports “ZeroHedge” (http://macte.ch/OUtAh), a site designed to, among other things, “widen the scope of financial, economic and political information available to the professional investing public.”
“We expect parity within a few months,” says Tyler Durden, writing for “ZeroHedge.” “Since Apple’s cash generation of about $10 billion per quarter, and growing at ~100% each quarter, means that the firm will have more than a trillion in a few short years, and not a penny in debt on the other side, we are going to go ahead and say what everyone is thinking: Steve Jobs for lifetime Federal Reserve chairman.”