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  • Apple Reclaims its Crown as World's Most Profitable Company


    Shares of Apple are on the move and moving to the upside again today. Shortly after noon on Wall Street this afternnon, AAPL was trading north of $455 as the Cupertino, California-based iDevice maker continues to win back the affections of investors whose passion for Apple was likely re-kindled after the company's most recent earnings report.

    All told, July was a good month for AAPL. Apple's stock popped 14% in July, even though the company still has a long way to go before AAPL can fully retrace its way all the way back to more than $700. Nonetheless, as of this writing, Apple’s market cap is $414 billion, making it once again the world’s largest company by market capitalization.

    Back to the #2 spot is Exxon Mobil Corp., which is still taking its lumps after a disappointing earnings report. No one should shed a tear for Exxon, however. It's market cap is still $409 billion.

    "Apple was last up 0.7% after Jefferies lifted its price target to $450 from $405," Victor Reklaitis of MarketWatch wrote late this morning. "The Tell reported in April how Exxon had captured the market-cap crown thanks to Apple’s fall from grace. But Apple now appears to have found a bottom and recovered, as the folks at Bespoke Investment Group have noted."

    Source: MarketWatch
    This article was originally published in forum thread: Apple Reclaims its Crown as World's Most Profitable Company started by Michael Essany View original post
    Comments 7 Comments
    1. Cer0's Avatar
      Cer0 -
      Has come a long way since being near the brink of failing in the 90s. Bravo Apple.
    1. iYeow's Avatar
      iYeow -
      Not just apple stocks, most stocks are up today. Good day for stock market.
    1. SirZyrion's Avatar
      SirZyrion -
      So the stock price surges a couple of days after Apple execs sell off huge chunks of their shares? I get the feeling the guys on the inside know something they disagree with...
    1. iM1sf1t's Avatar
      iM1sf1t -
      Quote Originally Posted by SirZyrion View Post
      So the stock price surges a couple of days after Apple execs sell off huge chunks of their shares? I get the feeling the guys on the inside know something they disagree with...
      16 million in apple stock with a market cap of 414 BILLION is about like kicking a deck chair off the Queen Mary... If there were a problem and a huge insider sell-off happened, stock prices would drop, not rise.
    1. LucySterling's Avatar
      LucySterling -
      Quote Originally Posted by Cer0 View Post
      Has come a long way since being near the brink of failing in the 90s. Bravo Apple.
      Well said, at least they made it.
    1. Alluziion's Avatar
      Alluziion -
      Market capitalisation does not depict the profitability of the company but its value.
      Unless they their EoY Fiscal Profits have exceeded Exxon's, they aren't more profitable than them. Judging by the content of this post, the title should be "Apple Reclaims its Crown as World's Most Valuable Company".
    1. bigboyz's Avatar
      bigboyz -
      Thanks for putting that into perspective^^ All I know is that Apple has a huge ca$h hoard no matter how you want to word it. Hate all you want they know how to make a buck.