Apple is now ranked Worlds Number One company according to its market value . Apple overtook Exxon Mobile corp to become worlds most valuable company . Apple’s market cap* briefly passed Exxon Mobil yesterday reaching $341.55 billion in valuation.
Exxon Mobil earlier named Standard Oil was established in year 1870 and its been there as the top company for over a century . Apple gained the second position after a record-breaking quarter last month . It’s a great achievement for a 30-year-old company which was once struggling to stay in the market , surpass Exxon even if briefly .
*Market Capitalization or Market Cap is a measurement of business value based on share price and number of shares outstanding.
Because of the innovative technology in their products , Apple has gained unprecedented growth and success in the last decade . Their most succesful products the iPhone and iPad has created a craze for Apple products among consumers both young and old . At this time of economic difficulties , Apple gadgets are still selling like hot cakes .
Good Luck Apple !
Image : Apple Store , Fifth Avenue , New York City . Also Read : Marvellous Apple Stores Around The World