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Apple becomes world’s second most valuable company

Apple Store“Apple Inc. overtook PetroChina Co. to become the second-biggest company in the world by market value, lifted by investors betting on growth prospects for the iPhone, Macintosh and iPad,” Adam Satariano reports for Bloomberg.

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“Apple, valued at $265.8 billion, trails Exxon Mobil Corp., which was worth $313.3 billion as of 2:53 p.m. New York time. PetroChina is valued at $265.5 billion,” Satariano reports. “‘There’s no reason at all Apple can’t grow much, much bigger,’ said Jane Snorek, an analyst with Minneapolis-based First American Funds, which has more than $100 billion under management, with Apple as its largest technology holding. Apple still has a small portion of the market for phones and computers, she said.'”

Full article here.

MacDailyNews Take: Boom! Congrats to all Apple Inc. employees on their excellent work. To infinity and beyond!

[Thanks to MacDailyNews Reader “Metryq” for the Buzz Lightyear quote suggestion and to “David C.” for the heads up.]

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