Apple becomes the world's most valuable company
Apple has overtaken Exxon Mobil to become the world's most valuable company
Apple has officially become the world’s most valuable company, briefly surpassing Exxon Mobil after the oil giant was hit by the continued slumps in the stock market.
Increasing its value by a whopping 41 per cent in the past year Apple has rallied against the slow markets with the continued success of the iPad 2, iPhone 4 and its range of Mac devices helping to steer it to the top of the global valuations.
Seeing its value rise to a staggering $341.5 billion (£210.24 billion) yesterday Apple overtook Exxon as the world’s most valuable company as the oil firm slipped to a mere $341.4 billion before rallying ahead of the market close to retake top spot.
Last week it emerged that Apple has a larger cash reserve than the entire US Government with a store of $76.4 billion compared to the government’s $73.7 billion.