Most Valuable Company is Apple

Most valuable company was taken by Apple after it overtook Exxon this week. The most valuable company title could be placed on Apple after its market value increased to $419 billion. Exxon was the second-most valuable company with $419 billion market value.
Save
Most Valuable Company is Apple
Two women walk by the famous Fifth Avenue Apple store near Central Park on Dec 20. Apple scored a win in an ongoing patent dispute with HTC on Monday.   (Benjamin Chasteen/The Epoch Times)
1/27/2012
Updated:
10/1/2015
<a><img class="size-large wp-image-1792717" title="chasteen__applestore_FRONT" src="https://www.theepochtimes.com/assets/uploads/2015/09/chasteen__applestore_FRONT.jpg" alt="" width="590" height="426"/></a>

Apple Inc. overtook ExxonMobil as the world’s most valuable company this week after its stock rose 1.39 percent to $446.02 per share, following record quarterly sales, media reports say.

The tech giant on Tuesday said its net income in the last quarter was more than twice than it was in the previous quarter and revenue grew around 73 percent. 

The increase pushed Apple’s market value to $419 billion, making it the most valuable publicly-traded company in the world. Profits surged to $13.1 billion, which translates to $13.87 per common share, the company said on Tuesday.

ExxonMobil, on the other hand, has a market value of $418 billion. Its stock dropped by 0.73 percent on Thursday to $86.04 per share.

Apple said that it sold 37 million iPhones and 15.4 million iPad tablet computers.

“Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline,” Apple CEO Tim Cook said in a statement earlier this week. Cook is Apple’s former chief operating officer and took over as the company’s chief executive after Jobs-- who died last year--stepped down last August.