Apple is World’s Most Valuable Company Again
Email
(Image credit: Justin Sullivan/Getty Images)
Apple Inc. once again became the most valuable company in the world on Wednesday morning, reclaiming its title from Exxon Mobil.
Apple, based in Cupertino, Calif., has a market cap of about $419 billion while Exxon Mobil has a market cap of about $415 billion.
Shares of the tech company jumped minutes after the start of trading following record first quarter earnings reported Tuesday afternoon. The stock increased 6.6 percent to $448.139 around noon ET. Exxon Mobil’s shares were down 1.3 percent to $86.03.
Exxon Mobil had claimed the title of biggest public company from Apple on Oct. 27, the Wall Street Journal reported.
In Apple’s first quarter, which ended Dec. 31, sales of the iPhone doubled the previous year’s numbers for the same period, blowing away Wall Street’s expectations.
Apple sold approximately 37 million iPhones and 15.4 million iPads in the last three months of last year. The company’s first-quarter profit more than doubled to $13.1 billion, up from $6 billion a year ago. Sales rose 73 percent to $46.3 billion from $26.7 billion for the same period in 2010. Apple had a reported $127.8 billion in sales during the 2011 calendar year.
Memorial Day Deals 
Man Charged in Deposit Error Spending Spree 
RSS
Twitter
Facebook
An amazing performance! Once again I’m astounded that given such a “bad economy” that there are enough people who are in such desperate need–more than food and water, have an IPhone and IPad.
Hey! Maybe things are not that bad?
Posted by: MyTakeOnThis61 | January 25, 2012, 12:53 pm 12:53 pm
Nope.
No one asked me.
Apple is not the most valuable company to me.
Posted by: Name | January 25, 2012, 1:27 pm 1:27 pm
Great news for the Chinese economy … where most of their overpriced and overrated products are made …
Posted by: yeah.i.said.it | January 25, 2012, 2:06 pm 2:06 pm
Apple founder said he could not build his products in America because of the tax code and union greed. Funny how the President picks and chooses the rich companies he gives a pass and the rich companies he keeps putting down. He had two full years to do the right thing and he spent it pushing Obamacare down our throats and spending us into oblivion with his bad policies that failed. There are now at least 11 more Solyndras, no pipeline, gas has more then doubled, unemployment has gone up 1.1 million, college tuition has gone up 25%, food stamp recipients up 45%, home values down, we were 1st in global competitiveness now we are 5th and huge debt. Please people, wake up and vote anybody but Obama.
Posted by: Freedom | January 25, 2012, 2:42 pm 2:42 pm
“Funny how the President picks and chooses the rich companies he gives a pass…” You mean like his best bud Immelt’s company, GE?
Posted by: MyTake | January 25, 2012, 3:06 pm 3:06 pm
This is great news…for a handful of executives and investors and for the Chinese economy in general.
Posted by: Dave | January 25, 2012, 3:24 pm 3:24 pm
This means they are definitely charging too much! They could cut their prices and still make billions.
Posted by: Alvin Tree | January 25, 2012, 3:42 pm 3:42 pm
I saw a breakdown recently; 2% of the cost of iPhone goes to China, for assembly. Apple in the US gets the lion’s share, while component makers and other business in South Korea, Japan, and Taiwan get more than China.
Posted by: ab | January 25, 2012, 4:00 pm 4:00 pm
I like Apple products-they don’t fall apart or go out of use like so many PC items I had in the past. My iPhone lasts longer than any of my Nokia and Motorolas ever did. I do not get viruses. Being Frugal means Paying a little more now rather than less now and replacing more often until you actually pay more over the long-term. I do wish Apple would build here in the US rather than using the cheap foreign workers who live in Dormatories and work 12 hours a day for little money. I honestly do not know of ANY cell phone or computer that is made in the US. The company is doing well because they are a quality product.
Posted by: pksk531 | January 25, 2012, 4:01 pm 4:01 pm
Actually, they just assemble the products in China. The people who make most of the parts are in either the US, or South Korea, or Japan.
Once you buy your phone or computer from Apple, China only gets about 2% of that sale. The majority of the money stays right here in the USA. South Korea & Japan get more of the % of sale than China.
I love Apple products and I agree… being frugal means you pay more for a quality product that won’t get a virus, won’t break, and has warranty and Americans you can speak to on the phone with an issue (which Apple does have). Why buy a $500 laptop every 2 years when I can buy 1 for more that will last me 8-10 years or more!
Posted by: Max | January 25, 2012, 4:19 pm 4:19 pm
Good for them! Apple kept on keeping on even when they had been written off as being “betamaxed” by Microsoft and the stock was around $12/share. The are a true American success story.
Posted by: Griff | January 25, 2012, 4:35 pm 4:35 pm
There are a lot more VALUABLE things than Apple products. If Apple and it’s products were eliminated from this planet, it wouldn’t make a difference.
Posted by: Jon | January 25, 2012, 4:45 pm 4:45 pm
Freedom — I suppose you would like us to become China. A little something you might not know or even care about; CHINA IS NOT A FREE COUNTRY!! I for one am not interested in bringing slave labor to America, are you?
Posted by: dan | January 25, 2012, 5:19 pm 5:19 pm
I wonder if they pay their fair share of taxes ? Nah, probably like old Warren Buffet’s company owing more than a billion dollars in back taxes and fighting it in court ! What say you Barry ?
Posted by: HUH ? | January 25, 2012, 5:27 pm 5:27 pm
The apple lemmings and apologists can quote numbers out of their arses all they want … all this story is – is about billions of American dollars and jobs siphoned into Asian economies – outside of investors who read the WSJ and Forbes anyway – who cares?
Posted by: yeah.i.said.it | January 26, 2012, 12:27 am 12:27 am
I love the characterization of Apple as the “most valuable” company in the world rather than the “richest” company. Perhaps we can now start characterizing the “richest” people on this planet as the “most valuable” people.
Posted by: GracieZG | January 28, 2012, 12:22 pm 12:22 pm