NEW YORK (AP) -- Apple has again surpassed Exxon as the most valuable U.S. company after a huge fiscal first quarter.
Apple Inc.'s stock is up nearly 7 percent to $448.79 in Wednesday midday trading, bringing the iPhone and iPad maker's market capitalization to about $418.5 billion.
Meanwhile, Exxon Mobil Corp. shares are down 1 percent $86.23. That gives the oil company a market cap of about $413 billion.
Apple said late Tuesday that net income in its most recent quarter more than doubled, while revenue was up 73 percent.
Cupertino, Calif.-based Apple first topped Exxon as the most valuable company in August, then fell back to second place. The Irving, Texas-based oil and gas giant had held the top spot since 2005.
Apple overtook Microsoft Corp., now in the No. 3 slot with a market cap of $246.5 billion, in 2010.
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.powered by Disqus