Apple – Most valuable U.S. CompanyJanuary 25, 2012
Ben Rooney of CNNMoney reports today that Apple Inc. tops Exxon as the most valuable U.S. company. The company’s stock is up almost 6.5% a day after Apple reported the best quarterly results in history for a tech company. This spike pushed the company’s market value to $419 billion. Apple already surpassed Exxon last August, but enjoyed the view from the top for less than a day. It would be interesting to see how long will Apple hold this title now.
Rooney reports that Apple’s amazing quarter included a 73% jump in sales to 46.3 billion, which is a tech industry record. According to Apple, the company’s fiscal first-quarter profit more than doubled from a year earlier rising to $13 billion, or $13.87 per share. In this last quarter, iPhone sales doubled form the same period a year ago to 37 million units. iPad sales also doubled to a record 15.4 million. The sales of 5.2 Macs during this last quarter marks the most personal computers that Apple has ever sold in one quarter. Click here to read full article.