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For a brief period, Apple becomes the most valuable U.S. company

By Alan Friedman

Published: Aug 09, 2011, 3:34 PM

Apple

Apple earlier today briefly overtook ExxonMobil to become the most valuable U.S. company trading on U.S. markets. With a market cap of $341.5 billion, the Cupertino based company had a $100 million higher value than the New York based oil and gas company. What makes this an amazing achievement is that ExxonMobil brings in four times the annual revenue that Apple does.

It hasn't always been this way for Apple. The return of Steve Jobs and the quick success of the iMac followed by the iPod and the world-wide phenomenon called the Apple iPhone brought Apple's stock well into triple-digit territory. The Apple iPad simply added fuel to the fire and the company recently hit a 52 week high of $404.

While Apple has recently become the largest Global smartphone vendor, it is the anticipation of the coming next-gen version of the Apple iPhone that has added $20 billion to Apple's worth since July 1st. During the same time, ExxonMobile has lost $60 billion in market cap.

source: Reuters via IntoMobile

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Alan, an ardent smartphone enthusiast and a veteran writer at PhoneArena since 2009, has witnessed and chronicled the transformative years of mobile technology. Owning iconic phones from the original iPhone to the iPhone 15 Pro Max, he has seen smartphones evolve into a global phenomenon. Beyond smartphones, Alan has covered the emergence of tablets, smartwatches, and smart speakers.

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