Business | August 11, 2011

Mirror, mirror on the wall, which is the most valuable of them all

Apple - yesterday - briefly passed Exxon Mobil to become the most valuable company. However, a last-minute surge ensured Exxon the top spot a little bit longer.
Apple is as good as gold, if investors have any say in the matter. And Apple could actually become the most valuable company in the world.

When the stock market closed on August 09, 2011, Apple was valued at USD 347 billion. Exxon Mobil was valued just shy of USD 348 billion. A measly 1 billion does not seem an obstacle for a company that was founded a mere 35 years ago in Steve Jobs' garage.

In fact, Apple has been closing in on the oil giant for more than a year. In May 2010, Apple passed Microsoft to claim Top2.

And a year ago, Apple was looking at a USD 50 billion difference.

So, while people might need oil, they want iPhones, iPads, MacBooks, iPods, iMacs.


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