News: Apple Becomes World’s Most Valuable Company

Posted on August 11, 2011

Although the stock market has been up and down quite a bit every day this week, and people are on the verge of economic chaos, one story sticks out to us—Apple has passed ExxonMobil to be the world’s most valuable company.

With profitable quarters after profitable quarters, it’s no surprise Apple is in the current position, but there is a bit of irony:

While both companies declined Wednesday, Exxon fell more, leaving it with a market value of $330.8 billion, compared with $337.2 billion for Apple at the close of US markets. Wednesday was the first time Apple passed Exxon in intraday trading.

The showdown with Exxon follows Apple’s 14-year transformation from a personal-computer also-ran into a seller of everything from smartphones to digital music. Apple has already eclipsed Microsoft Corp., International Business Machines Corp. and Intel Corp, whose dominance of the technology industry in the 1990s helped nudge Apple to the fringes of the PC market.

For a good read in the context of a very ripe and healthy Apple, check out the Apple Death Knell Counter.

This post has been filed in News