A day does not go by where 10 plus people don’t ask me for stock ideas.
Depending on my mood or which stock has been relatively weaker of late, I mention Apple or Google.
In most cases the conversation is killed because they either think it makes sense or they think I am just blowing them off politely.
This morning Apple will open up strong after their quarterly report at nearly $900 billion.
The numbers that stood out to me were the strong service revenue growth numbers in China and the 300 percent growth in Apple Pay. Obviously the stores continue to be magical.
For me, iOS 11 is perfect because I can doodle on photos and screenshots.
Apple has nearly $300 billion in cash.
Most importantly, even at $900 billion, Apple is one rare crypto asset. Only Apple knows how to organize all the materials that it takes to put together all the iPhones the world demands.
We take that impossible part for granted every day. Sure you can get a smartphone anywhere, but not everyone will be able to afford or even get an iPhoneX.
While we argue which Company or asset like Bitcoin gets to $1 trillion first, my friend Joe says it best:
The question isn’t which company will be the first to reach a $1 trillion market cap, but how many will get there.
As for the other crypto asset Bitcoin, when people ask me whether they should buy it or not, I always say open a Coinbase account and buy an equal amount for 10-12 months.
This morning at $7,300 will be the last day I do that. At least for now.
At $7300, Bitcoins now are valued at over $120 billion.
Apple this morning is just 7.5 times more valuable than all the Bitcoins in the world.
I hope Bitcoin passes Apple in terms of total market value as I still hold some, but I like the idea of owning Apple just a little more at this morning’s ratio.
PS – I heard tonight from a Coinbase investor that 100,000 people opened accounts today. As Bitcoin continues to rise, I check it’s price first on Stocktwits when I open the app. We have entered a very strange point in time where the Bitcoin rise might just be pulling the general markets along.
PSS – One Bitcoin transaction now uses as much energy as your home in a week.
Also published on Medium.