Even though their recent quarterly financial results were dismissed as “disappointing” by Wall Street, Apple’s stock has nevertheless been on a steady uphill trend following their recent financial report. The stock has risen from a close of $418.99 on June 23 (the day of their report) to a healthy close of $456.68 yesterday evening. As a result, Apple has once again managed to leapfrog Exxon to regain the title of most valuable company in the world!
The critical number to focus on is market cap. As you can see above, when the market closed yesterday, Apple’s market cap sat at a healthy $414.86B. By comparison, Exxon’s market cap yesterday came to rest at 412.31B, giving Apple more than a 2B margin over their cap for the first time since April 17th.. Congrats, Apple!
Now, let’s just hope the stock continues to rise back out of the pit it has fallen in since hitting a high of around $700 per share last September…
