history lesson from STOCKHAUS:

When we take a look at past bubbles, we can see that Apple has now reached the top 3 of all “Bubbles.” Only eDigital and the Poseidon performed better.

Apple Inc. (NASDAQ: AAPL, Stock Forum) is doing great these days. In January, the company reported that profits for the holiday quarter more than doubled.

The stock price shot up 8% on the news, and rallied all the way to over $526 per share in the days that followed.

On July 10th 1997, the stock was trading as low as $3.16. From $3.16 to $526+ is an increase of 16,554.75% in 15 years time.

The chart is starting to look like a bubble in the making, as price is starting to go parabolic.

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Chart courtsey Sharelynx.com

Note to readers: The Poseidon bubble was a stock market bubble in which the price of Australian mining shares soared in late 1969, then crashed in early 1970. It was triggered by the Poseidon NL’s discovery of a promising site for nickel mining in September 1969. eDigital is best known for a phenomenal rise in the price of its stock during the dot-com bubble from a low of $0.04 in January 1999 to an intra-day peak of $24.50 on January 24, 2000.

Could Apple go even higher? Sure! Imagine it would rise to $1,000 per share. It would then have gained 31,545.57%, which would be close to the Poseidon Bubble.

In order to beat the eDigital Bubble, AAPL would almost have to tripple to over $1,437.80.

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Chart courtesy Prorealtime.com