Neil Hughes
Apple on Thursday once again became the most valuable company in the world by market capitalization, pushing past Exxon Mobil as rumors of next-generation iPhones and iPads continue to heat up.
Chart via Google Finance.
Apple's market cap was around $414 billion during trading on Thursday, with the company's stock up as high as $456.80 in the morning session. Exxon, meanwhile, saw shares slide more than 2 percent during the morning, sending its market cap to around $408 billion, following a disappointing earnings report.
The change made Apple, at least temporarily, once again the most valuable company in the world by market cap. It's a title the company held throughout 2012, but ceded after its stock went tumbling late in the year and through the first half of 2013.
Over the last month, shares of AAPL have surged nearly $50. However, Apple is still off about $100 from the start of 2013, and remains well below its peak north of $700 reached last September.
Exxon overtook Apple's market cap in late January of this year, amidst a continued selloff of AAPL stock. At the time, Apple was worth about $413 billion, not far from where it was as of Thursday afternoon.
After a few quarters with relatively flat growth, investors are hopeful that Apple can once again gain momentum this fall, particularly with the anticipated debuts of new iPhones and iPads. Among the products expected are a so-called "iPhone 5S," a new low-cost iPhone, a thinner and lighter fifth-generation iPad, and a second-generation iPad mini.
AppleInsider Staff
Chip Loder
Christine McKee
Malcolm Owen
William Gallagher
Andrew Orr
29 Comments
Finally rumors that are working in Apple's favor
Good for Apple. One of the few companies that is not selling "crap" products! MS, Google, Samsung, HP, Dell, etc., take note on how to do it the right way...
...i.e., great hardware with great software which creates an ecosystem that people want to buy into! Duh! :)
The stock will end down today on this.
It's sad that Apple makes LESS money, gets LESS marketshare, has LESS prospects for successful products, yet people buy their stock. This is the same thing that was happening on the runup to $700. Do people not learn? Do some research before you buy the stock (or their products for that matter). Outdated and inferior technology/computer products (no matter how cool they look), especially when combined with the prices that Apple sells them at, is not a recipe for success.
It's sad that Apple makes LESS money, gets LESS marketshare, has LESS prospects for successful products, yet people buy their stock. This is the same thing that was happening on the runup to $700. Do people not learn? Do some research before you buy the stock (or their products for that matter).
Outdated and inferior technology/computer products (no matter how cool they look), especially when combined with the prices that Apple sells them at, is not a recipe for success.
There isn't a single statement in that entire post which is even remotely close to being true.
But if it makes you feel better, go for it, I guess.