STUART: TO REMIND VIEWERS, IT

DID HIT TRILLION DOLLAR MARK,

EVER SO BRIEFLY.

ASHLEY: 207.05.

STUART: IT DID HIT THE MARK AND

STRAIGHT DOWN, NOT EXACTLY DOWN,

>> I AM WITH YOU.

STUART: YOUR COMMENT, PLEASE.

WHEN IT WAS TRADING AT DEEP

DISCOUNT IN THE MARKET RELATIVE

TO EARNINGS, IT WAS DOWN AROUND

12 TIMES EARNINGS FOR A LONG

TIME, I'M LOOKING AT IT NOW,

SUDDENLY 17, 18 TIMES EARNINGS,

BORDERING ON MARKET MULTIPLE.

THAT DOESN'T COUNT THE CASH, LET

ME JUST SAY THIS, MAYBE JUST

MAYBE APPLE IS A COMPANY THAT

DESERVES TO TRADE AT A PREMIUM

WALL STREET, THE OUTLOOK IS FOR

LOW-DOUBLE DIGIT EARNINGS GROWTH

FOR THE COUPLE OF YEARS.

THE COMPANY IS LOOKING LIKE A

UTILITY BECAUSE OF RETENTION

RATE FOR IPHONE CUSTOMERS,

NOBODY LEAVES BETWEEN SAMSUNG

AND APPLE, WHATEVER YOU'VE GOT,

YOU STICK WIT, EVERY COUPLE OF

YEARS YOU GO FOR THE NEW PHONE,

SO VERY STABLE SAFE GROWER.

IF ANYBODY CAN ANSWER IT FOR ME,

YOU HAVE THE BIG TECH STOCKS,

SOME OF WHICH ARE -- SOME OF

THEM ARE WORTH MORE THAN A

THOUSAND DOLLARS, GOOGLE IS

ABOUT 1200, AMAZON IS AT 1800,

APPLE IS ABOVE 200, BACK IN THE

DAY NOT THAT LONG AGO A STOCK

WOULD SPLIT, YOU GET TO A

CERTAIN LEVEL -- ASHLEY: YOU

DON'T HEAR THAT SO OFTEN THESE

DAYS.

STUART: DO YOU HAVE ANY IDEA WHY

NOT SPLITTING, HUGE MASS MARKET

COMPANIES, ALL OF THE COMPANIES

IMAGINED, RIGHT, HALF OF THE

STUART: DO YOU HAVE ANY ANSWER

TO THE QUESTION, JACK, WHY DON'T

THEY SPLIT?

>> I DON'T HAVE A GOOD ANSWER.

LET ME BARELY ACCEPTABLE ANSWER

WHICH IS THAT BACK IN BERKSHIRE,

THE THINKING THERE WAS THEY

DIDN'T WANT AM -- AMATEURS AND

WANTED STEADY INVESTORS AND

BECOME FASHIONABLE FOR TECH

COMPANIES -- LONG-TERM GROWERS

TO KEEP THE SHARE PRICES, IT

REALLY MAKES NO DIFFERENCE FOR

INVESTORS IN TERMS OF VALUE.

STUART: YOU'RE BREAKING UP,