Printed from http://www.electronista.com

Apple re-takes crown as world's most valuable company

updated 07:45 pm EDT, Thu August 1, 2013

Stock surge in anticipation of fall products pushes AAPL back up

Though things could change again tomorrow, Apple on Thursday once again became the world's most valuable publicly-traded company by market cap, rising $4.15 (nearly a percentage point) to close at $456.68 per share (and still rising in after-hours trading, currently at $457.65). With a value approaching $415 billion, the company re-took the crown from Exxon Mobil, which fell by a dollar after a bad earnings report and lowered its overall market cap to $412 billion. AAPL has risen almost $50 over the past month, but is still off its 2013 high of $549.03 per share.

Investors appear to be building up the stock again -- after months of tearing it down for unclear reasons -- in anticipation of a strong fall lineup of new products and services that should keep the company on top of the consumer electronics game in time for the holiday season. While Apple has been seen to be losing some marketshare in smartphones and even (very slightly) in tablets, the company's sales remain strong and Apple is continuing to grow share in the crucial North American market. While "shipments" of other phones and tablets increase, the iPhone and iPad remain the dominant individual brands of smartphone and tablet respectively, in the latter case continuing to completely dominate its category.

Already known to be coming (presumably at various release times across the fall) are refreshes of the MacBook Pro lineup with new energy-efficient Haswell chips, major upgrades of OS X and iOS, a long-awaited Mac Pro, new iPhone and iPad models and various other lesser software and service upgrades. In addition, Apple has held out the possibility of other, completely-new products being introduced to market -- speculation has centered around an Apple-branded TV device and a potential "smartwatch" fitness accessory.




By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. iphonerulez

    Dedicated MacNNer

    Joined: 11-28-08

    I'm sure the news media and Apple haters can't bear to hear this news. Why should a doomed company have the highest market cap on Wall Street? Everyone knows iPhone market share has dwindled and now the iPad market share is being overtaken by Android tablets. Apple is seen as a company on the verge of collapse, yet it still managed to grab a higher market cap than Exxon again. It weird how Apple refuses to die although everyone wants it to just go away.

  1. chefpastry

    Mac Enthusiast

    Joined: 11-14-05

    Where can I find the image used for this article on the main MacNN page? I'd like to use it for my desktop. Thanks in advance.

  1. jpadhiyar

    Fresh-Faced Recruit

    Joined: 10-16-12

    Good to know that the fall rumors have had a good impact this time but nothing can be said till products launch. It's funny how the fortunes of a company as large as Apple can be manipulated by rumors. But the deeper question that lingers is would Tim Cook be able to take the stock to the old $700 peak?

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

IDrive cloud backup and sync service

There are a lot of cloud services out there, and nearly all of them can be used for backing up key files and folders. A few dedicated ...

Asus Chromebook C300

When Chromebooks hit the market back in 2011, consumers didn't know what to do with them. The low-cost laptops, powered by Google's Ch ...

Plantronics BackBeat Pro Bluetooth headphones

Looking for a pair of headphones that can do everything a user requires is a task that can take some study. Trying to decide on in-ear ...

Sponsor

toggle

Most Commented

 
toggle

Popular News