Next stop, IBM.
Facebook’s remarkable share price surge over the last year has pushed its valuation—more than $192 billion as of yesterday— above some of the most venerable names in corporate America. They include the likes of Coca-Cola, Disney, Intel, Merck, AT&T, Citigroup, Bank of America and Amazon.com. (For the sake of clarity we haven’t shown them all in the chart.) The venerable technology giant IBM looks to be next.
As we’ve mentioned before, Facebook’s shares—up 118% over the last 12 months—have been some of the best-performing in the S&P 500 this year. The stock has climbed largely on the back of solid operational performance which has quickly shifted the story surrounding the stock away from its disastrous IPO and toward the potential for mobile growth. Facebook’s earnings earlier this week confirmed that it is finally mastering the art of monetizing mobile.