Is Apple’s share price iRational?

Apple’s share price has risen by 83% in the past year, and by almost 50% so far in 2012. Apple is now easily the largest company in the world by market capitalisation, at some $565 billion.

It accounts for 4.5% of the S&P 500 and 1.1% of the global equity market.

Some bank analysts have started to report America’s corporate earnings without Apple, because including the firm so skews results, The Economist reports.

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