Apple became the world’s largest company by market capitalisation, trading places with oil firm Exxon Mobil several times during the day.
The Cupertino-based vendor saw its shares rise 6.1 percent to US$374.61 on the Nasdeq Stock Market during the course of Tuesday trading, giving it a capitalisation of US$347.3 billion. Although Exxon Mobil ended the day in top spot, the two will vie for the title of world’s most valuable company again today.
Apple’s rise to the top follows a 14-year transformation from a personal computer also-ran into a seller of everything from smartphones to digital music. Most importantly, the company has led the way in most of its market sectors, pioneering new technology.