The following is an excerpt from David Zielenziger | September 17, 2012 | IBtimes.com |
Shares of Apple (Nasdaq: AAPL), the world’s most valuable technology company, toppd the $700 mark for the first time Monday, a year after they first surged above $400. The move brings the Cupertino, Calif., electronics maker into rarefied company, with only a handful of companies, including rival Google (Nasdaq: GOOG), the No. 1 search engine.
Apple shares rose $8.72 to $700.02, in after-hours trading Monday. On Friday, they closed at a record high of $691.28 after trading as high as $696.98 earlier.
At the $700 mark, Apple’s market value exceeds $650 billion, far above that of the No. 2 U.S. most valuable company, Exxon Mobil Corp. (NYSE: XOM), the Irving, Tex., energy giant. Exxon Mobil’s market value is only $421 billion. Apple’s market value surpassed Exxon Mobil in the first quarter.
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