Apple briefly passes Exxon as most valuable co.

Jan 25, 2012
In this March 25, 2011 file photo, customers wait outside the Apple store in Munich before the start of sales of the iPad2. Apple has again surpassed Exxon Wednesday, Jan. 25, 2012, as the most valuable U.S. company after a huge fiscal first quarter. (AP Photo/dapd, Lukas Barth, File)

(AP) -- Apple briefly surpassed Exxon as the most valuable U.S. company after an excellent quarter, though the oil company has regained the lead at the market's close.

Apple's stock rose as much as 8 percent, while Exxon's fell as much as 2 percent during trading Wednesday.

Corp.'s stock closed up 4 cents at $87.22 for a of $418 billion. Apple's increased 6 percent to $446.66 for a market cap of about $415 billion.

Apple said Tuesday that net income in its latest quarter more than doubled, while revenue grew 73 percent.

Cupertino, Calif.-based Apple first topped Exxon in August, then fell back to second place. Irving, Texas-based Exxon had held the top spot since 2005.

Apple overtook ., now in the No. 3 slot, in 2010.

Explore further: With IPO, Alibaba looks to unlock new markets

1 /5 (4 votes)
add to favorites email to friend print save as pdf

Related Stories

Apple shares soar, edges ExxonMobil in market cap

Jan 25, 2012

Apple shares soared on Wednesday following blockbuster quarterly earnings and the California gadget-maker leapfrogged over ExxonMobil to become the largest US company in terms of market value.

Apple doubles iPhone sales in 1Q (Update)

Jan 24, 2012

The iPhone is taking over Apple. For the first time, the device that changed how people use mobile phones, accounts for more than half of the behemoth company's sales.

Apple shares top $300 a share for first time

Oct 13, 2010

(AP) -- Apple's shares topped $300 for the first time Wednesday as stellar iPad sales and a planned expansion into China continued to give investors high hopes for the iPhone maker's already healthy prospects.

Recommended for you

Germany's Bayer says will float chemicals division

1 hour ago

German chemicals and pharmaceuticals giant Bayer, maker of Aspirin painkiller, said on Thursday it intends to float its chemicals Material Science division to focus on its life sciences activities in human and animal health.

Sony forecasts $2B loss as smartphones lag (Update)

Sep 17, 2014

Sony expects its annual loss to swell to $2 billion and has canceled dividends for the first time in more than half a century after writing down the value of its troubled smartphone business.

Alibaba post-IPO structure gives insiders control

Sep 17, 2014

Control over Alibaba Group will stay in the hands of founder Jack Ma and other company veterans after the Chinese e-commerce giant goes public on the New York Stock Exchange in a record busting share sale.

User comments : 0