Monday, 15 August 2011

Apple becomes world’s most valuable company

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.

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