apple-cash-1

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.

VentureBeat

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform
  • networking features, and more
Become a member