Apple has blown past Exxon Mobil, yet again, to become the world’s most valuable publicly traded company, thanks mostly to Apple’s record-shattering Q1 financial results yesterday.
Apple’s stock price surged more than 6 percent Wednesday to close at $446.66. And in early trading, Apple’s stock price hit an all-time high of $454.45. The company’s stock has a market value of nearly $419 billion, which is a bit higher than Exxon’s $414 billion value.
Yesterday, Apple absolutely smashed Q1 estimates with a reported $13 billion profit and record iPhone, iPad, and Mac sales. Of those statistics, the fact that the company sold 37 million iPhones in a single quarter was particularly jaw-dropping.
With its place as the world’s most valuable company, Apple joins a list of just 10 others that have previously held that slot. Those companies include AT&T, Exxon Mobil, Dupont, Microsoft, Wal-Mart, Cisco, GE, IBM and Altria.
Apple previously took the top slot from Exxon on Aug. 10, 2011 when its stock price closed at $363.69 and Exxon’s stock fell more than 4 percent that day. But Exxon’s fortunes soon rose and it quickly reclaimed the top slot.