Apple closes above $400, stays ahead of Exxon Mobil in market value

“So far, Apple Inc. seems to be doing just fine without Steve Jobs, the man who co-founded the company and later rescued it from bankruptcy to turn it into the world’s most valuable technology concern,” David Sarno reports for The Los Angeles Times.

“Jobs stepped down as chief executive last month, but Apple stock has been on the rise since then, and on Friday closed above the $400 mark, just $4 shy of its all-time high,” Sarno reports. “The company has also maintained its lead above oil giant Exxon Mobile as the world’s most valuable company of any kind.”

MacDailyNews Take: Apple Inc. in the most valuable publicly-traded company.

Sarno reports, “Apple seems to be pulling away. It’s market capitalization of $371 billion is now nearly $10 billion ahead of Exxon’s $362 billion, and the oil company’s stock has seen few gains in the last month.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Edward W.” for the heads up.]

8 Comments

  1. Just $4 (or 1%) from seeing the “all-time high” headline again.

    The “discount” on AAPL cause by ongoing concerns about the health of Steve Jobs (and the constant rumors it generated) is slowing disappearing.

    1. Exactly! As I stated earlier today, he just moved down the hall to the larger office. He is not going away. It is no longer necessary for Steve to dictate the diameter of the cable holding the iMacs on the tables at the Apple stores. That level of focus to detail made Apple what it is. And, for the most part, people can say that we are there now. I would like to think that as COB, he is now the chief visionary officer, still giving input on the ‘look and feel’ of future products but leaving the details to Tim and company. I believe the stock price reflects his continued involvment.

  2. i’d buy exxon and apple stock personally.

    go long on exxon cause the coming energy crisis is going to make them more valuable than soil and water in the future.

    1. With soil and water you can grow food. Humans can and have survived without oil. Humans do not survive without food. Pretty elementary fact all things considered!

  3. If more people move out of the Suburbs to the denser city cores we can save significant amounts of transportation energy. Having retail stores underneath where you live is so convienet and energy efficient. Suburban sprawl consumes oil resources like crazy. Exxon Mobil is so big because we need to burn gas to get anything on a daily basis practically. Smart people are moving out of the suburbs.

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