Apple tops Exxon as most valuable U.S. company (and in the world)
Apple nudged out oil giant Exxon Mobil early Wednesday to become the most valuable publicly-traded company in the world. The company's stock surged 8% at the open to $454.44 a share, one day after Apple reported the best quarterly results in history for a tech company. That spike pushed the company's market value to $418 billion.
At that level, Apple (AAPL, Fortune 500) has surpassed the perennial champ, Exxon (XOM, Fortune 500), which has a market value of $416 billion.
Apple's stellar quarter included a 73% jump in sales to $46.3 billion, a tech industry record. The company said its fiscal first-quarter profit more than doubled from a year earlier, rising to $13 billion, or $13.87 per share.
It was one of the most profitable quarters ever for any U.S. company, trailing only Exxon's record-setting $14.8 billion quarter from the fall of 2008, when oil prices were at an all-time high.
http://money.cnn.com/2012/01/25/markets/apple_stock/index.htm?section=money_topstories
A LOT of analysts have egg on their face today. After Steve Jobs died they yelled sell! sell! sell!!
bemildred
(90,061 posts)Response to bemildred (Reply #1)
Tesha This message was self-deleted by its author.
bemildred
(90,061 posts)I've always been fond of closed hardware platforms, because they "just work", but the rap was always that they were too expensive and hence could not compete. This finally seems to put the lie to that.
onehandle
(51,122 posts)Running my own code from the 1970s.
You can keep your 'walled garden,' hippie.
bemildred
(90,061 posts)Absolute control, right down to the CPU. The absolute freedom to blow your own leg away (figuratively speaking) if you felt like it. I learned a lot that way.
tridim
(45,358 posts)U.S.A! U.S.A! U.S.A!
Thaddeus Kosciuszko
(307 posts)2ndAmForComputers
(3,527 posts)All you have to do is change to "glorious people's imagination revolution" and it'll be just right.