Apple is now the biggest company, EVER
New iPad to go on sale Friday to push stocks even higher
It was just a matter of time - but hi-tech computer company Apple is now
the biggest company, EVER. In late January, the day after Apple
released its quarterly earnings, Apple briefly jumped ahead of Exxon as
the most valuable company in the U.S. Apple saw its stock jump as high
as 8 percent while Exxon's shares fell by as much as 2 percent. Exxon
managed to reclaim its top spot at the end of the day, closing at $87.22
to achieve a market cap of $418 billion, while Apple closed 6 percent
higher on the day but only claimed $446.66 to achieve a market cap of
about $415 billion.
The new iPad, set to be released this Friday, is only expected to push Apple's fortunes ever higher. Announcing its plans to kill the textbook back in January, Apple unveiled its latest version of the iPad at an event in San Francisco last week.
The iPad revealed a similar-looking tablet with a beautiful new Retina Display that boasts one million more pixels than an HDTV. "The new iPad," which is also the first Apple device to run on the high-speed 4G LTE network, starts at $499 and will begin retailing on Friday.
Apple plans to go even further. The company also announced a new Apple TV, also going on sale Friday, which promises a beautiful new user interface and videos in full 1080p HD.
Described as a "stock demon" in 2012, Apple is scaring all other stocks away as it continues its ascent to the very top of the market.
Apple announced its record-breaking quarter for Q1 2012 on January 24, claiming $46.33 billion overall, $13.1 billion in profit and $17.5 billion in cash for the quarter that ended Dec. 31, 2011. The final 14 weeks of 2011 proved to be the most successful in Apple's 35-year history, thanks to the release of the iPhone 4S and its voice-activated AI tool Siri, as well as the outpouring of sympathy following the death of the company's co-founder and chairman, Steve Jobs.
Apple stock closed at 552.00 a share on Monday, which is an all-time record for the Cupertino-based computer company. Monday's high now puts Apple's market cap over $514 billion, which now exceeds Exxon's market cap by more than $100 billion.
For the December quarter, Apple sold 37 million iPhones, 15.4 million iPads and 5.2 million Macs.
"We're thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs," CEO Tim Cook says.
© 2012, Catholic Online. Distributed by NEWS CONSORTIUM.
- - -
Pope Benedict XVI's Prayer Intentions for January 2013
General Intention: The Faith of Christians. That in this Year of Faith Christians may deepen their knowledge of the mystery of Christ and witness joyfully to the gift of faith in him.
Missionary Intention: Middle Eastern Christians. That the Christian communities of the Middle East, often discriminated against, may receive from the Holy Spirit the strength of fidelity and perseverance.
Keywords: Apple, stocks, Exxon, iPad
Rate This Article
Leave a Comment
More Business & Economics News
- Web developer: Earn $60,000 a year - without college degree or debt
- China, India, Brazil could dominate global investment by 2030
- Unemployment in U.S. comes roaring back - in a big way
- Criminally unfair? Why disgraced Enron CEO Skilling could see freedom sooner than you think
- Berkshire Hathaway Inc. hits first quarter record profit at 51 percent
- China and Japan now hold record amounts of Obama debt
- Does shift to mobile mean Facebook's salad days are done? Not at all
- U.S. annual growth rate slowest since 1929, start of Great Depression
- Prosperity gap between races in U.S. widened during recession
- Fr. Paul Schenck: Finding Living Faith on Catechetical Sunday
- The Movie Yellow: Incest as 'Normal' and Cassavates's Slides Into the World of Woes
- The Chicago School Teachers Strike Reveals the Need For School Choice
- The Sexual Barbarians and the Dissolution of Culture
- The Happy Priest Challenges Us to Ask: Who is Jesus to Me?
- Michael Coren on Canadian Public Schools: Teachers, leave those kids alone
- We Cannot Ignore Our Consciences: Cardinal Dolan On Religious Liberty
- In the Face of Danger, Successor of Peter Travels to Lebanon as a Messenger of Peace
- Reflections on the Dignity and Vocation of Women: Who or What?
Disclaimer: The columns, articles, advertisers claims and any other features provided on Catholic Online Business & Economics are provided for personal finance and investment information and are not to be construed as investment advice. Under no circumstances does the information in this content represent a recommendation to buy, sell or hold any security. The views and opinions expressed in an article or column are the author's own and not necessarily those of Catholic Online and there is no implied endorsement by Catholic Online of any advice or trading strategy.