Apple Again Beats Exxon for Most Valuable Company in the USA!
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January 25, 2012 • 
Apple and Exxon have been getting honor of becoming Most Valuable Company in the USA, time to time. But today Apple regained the honor and became Most Valuable Company in the United States by beating its arched rival Exxon.
It is due to remarkable rise in Apple Inc. Stocks (AAPL) which went approx. 7 percent up to 448.79 in Wednesday midday trading, blessing the iPhone and iPad manufacturer’s market value to about $418.5 billion. On the other hand, Exxon Mobil (XOM) had to face a bearish trend when its shares were noted down by 1 percent trading at $86.23 providing the oil company a market cap of about $413 billion, consequently losing the position as the USA Most Valuable Company.
Apple just revealed its financial results which show that the net income of the company in the most recent quarter (Q1 2012) became more than doubled, while revenue was recorded high up to 73 percent.
It was August 2011, when Cupertino, Calif.-based Apple first topped Exxon as the USA Most Valuable Company but didn’t maintain its position and fell back to second place in a few weeks by Exxon; while The Irving, Texas-based oil and gas giant Exxon had grabbed the first position since 2005.
Microsoft Corp. was pushed to 3rd position by Apple in Most Valuable Company in the USA’s list with a market cap of $246.5 billion, in 2010.
Via: ABC News
