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AAPL closes at record high, now top-valued company

updated 08:30 pm EST, Mon January 30, 2012

Surpasses Exxon Mobile with $422B market cap

Apple's stocked closed at $453.01 on Monday, a new all-time high for the company still seeing the effects of its record-setting last quarter reverberate on Wall Street. The stock rose $5.73 to beat the previous all-time closing high of $447.28 set last Friday. At its current market value of $422 billion, Apple surpasses Exxon Mobil by nearly $13 billion as the most valuable publicly-traded company in the world, at least temporarily.

Better-than-expected sales in all three of Apple's major product categories -- iPhones, iPads and Macs -- has caused Apple's stock to jump from a Tuesday close of $420.50 to over $448 on opening Wednesday, with steady rises since then. The company broke records on shipments of all three categories and beat even optimistic expectations from Wall Street. When iPads are added in as computers, Apple leapt from the number three PC vendor to first place, surpassing in shipments even longtime market leader Hewlett-Packard.

Consensus estimates prior to the release of fiscal Q1 figures had pegged Apple as selling five million Macs (actual result 5.2 million), just under 30 million iPhone (37M actually sold) and 13.5 million iPads (15.4 million sold) during the holiday quarter. In current after-hours trading (at 8pm EST), the stock is approaching $454.




By Electronista Staff
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  1. Bobfozz

    Fresh-Faced Recruit

    Joined: Jul 2008

    +21

    Tim Cook...

    OK, so now can these magazines who "wonder" whether Cook will do a good job just SHUT UP? Jobs groomed Cook well, just like everything he was involved in. I couldn't believe all the nonsense we were reading last quarter "wondering" how Apple phone sales would do since there was no July release. Morons! These Fortune and Forbes writers STILL don't get Jobs, Apple, Cook, or much anything else. It makes me suspicious of EVERYTHING they write.

  1. ElectroTech

    Junior Member

    Joined: Nov 2008

    +13

    And the pundits now say . . .

    I can hardly wait for the next round of FUD from the pundits and analysts: Apple is doomed. The product line is flawed. Anybody can think up these products and services and they all do it better than Apple. Android will kill off Apple. Etc. Etc. Etc. . . .

  1. OldMacGeek

    Fresh-Faced Recruit

    Joined: Aug 2010

    +10

    Dang!

    ElectroTech beat me to it! I was going to say that the next sound you hear would be pundits and analysts (most likely clueless ones like Enderle) saying that AAPL can't possibly go any higher, blah blah, Android, blah blah, market share, blah blah, . . .

  1. climacs

    Forum Regular

    Joined: Sep 2001

    +8

    not so fast there

    I'm a big fan of AAPL and Apple, but it's only one quarter since Cook has been CEO. If he were not up to the job (and I am not saying that's the case), we would not know that only a few months after Steve's death.

    Furthermore, 4Q11 included iPhone 4S launch sales which were missing from 3Q11, which caused that quarter to be considered 'disappointing'.

    Judging Cook on one quarter's results is like... judging Obama based on the first 3 months of his job.

  1. chas_m

    Joined:

    +4

    A very fair point

    you have there climacs, but I do have a lot of confidence that the company will continue growing (and innovating) in the future. I think Steve built the kind of environment and work ethic that will continue to attract top talent, innovative thinkers and even the occasional oddball genius even without him there. John Lasseter has proven that you CAN bottle that magic and reproduce it without Steve; I think Tim Cook will too.

  1. Ian

    Fresh-Faced Recruit

    Joined: Aug 2000

    0

    Is there any higher cap?

    Is there any public company in the world with a higher value than $422 billion? If so which?

  1. Jeronimo2000

    Forum Regular

    Joined: Aug 2001

    +10

    @climacs: wrong

    Cook has been acting as CEO for a while, on and off since Jobs started taking medical leaves. It's Cook who's basically been running Apple for a few years now.

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