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AAPL Stock: 113.99 ( + 1.98 )

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Apple breaks $300 billion in market cap

updated 02:55 pm EST, Mon January 3, 2011

Challenged only by Exxon

Apple's market capitalization has cracked the $300 billion barrier, tracking data shows. The milestone comes as a result of Apple stock rising by more than $7.30 in Monday trading to sit close to $330, in fact giving the company a cap in excess of $302 billion. The achievement makes Apple the second-most valuable corporation in the world after multinational oil giant Exxon.

In May Apple surpassed Microsoft for first time by reaching a market cap of $225.7 billion. The company's profits are currently riding largely on the iPhone, but are still supported by Macs, and have been bolstered even further through the introduction of the iPad. The iPod has continued to decline in importance as multifunction devices take precedence.






by MacNN Staff

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Comments

  1. Jonathan-Tanya

    Joined: Dec 1969

    0

    that's serious money

    good for apple, maybe buy an oil company next?

  1. freddymac

    Joined: Dec 1969

    +4

    HEE HEE

    Eat them bananas, MONKEY BOY!!!!!!!!!!!!!!!
    Is it time to dance again??????????

  1. byRyan

    Joined: Dec 1969

    +2

    exxon?

    who is still buying exxon gas? I have been boycotting that s*** since the Valdez!

    And no, I am not buying amco/bp gas either!

    but if not for the environment - for the sake of apple, can we all please stop buying gas at exxon!

    Although to be fair, exxon owes a lot of its wealth due to the fact it PAYS NO INCOME TAX!

  1. iphonerulez

    Joined: Dec 1969

    +4

    I hope Steve is actively looking around for a

    large acquisition. Maybe Apple should acquire a search engine to start leaning on Google as Google is consistently crowding into Apple's iOS territory.

  1. climacs

    Joined: Dec 1969

    +6

    not too late to get into AAPL

    some analysts think it's cheap even at current prices

    Apple has $45 cash per share so at $330 you're paying $285 for the company which has not just beaten but demolished expectations for 31 straight quarters.

    $400 by year's end, some say. I'm thinking it will end 2011 in the $400-$450 range and there's still plenty of room for growth.

  1. testudo

    Joined: Dec 1969

    +4

    Re: exxon?

    who is still buying exxon gas? I have been boycotting that s*** since the Valdez!

    And no, I am not buying amco/bp gas either!


    And what does BP or Exxon do with all that gas they aren't selling to your local Exxon station? That's right, taking it to various other local stations (you could be getting BP gas at Exxon, you know). Selling it to third-party wholesalers and indie gas stations. You're still buying the gas.

    It's like saying "I buy my heroin from my local drug gangs, not from those Taliban-funded drug gangs!" without realizing your local guys are getting it from the taliban to begin with.

    And you would think you wouldn't need an environmental disaster to say "That oil company is scum". If your local station raises their gas prices 2 cents a gallon to try to help cover their operating costs, their wholesale costs from Exxon will magically go up that same 2 cents a gallon. It's just amazing these companies are allowed to basically gouge their distributors (the gas station owners) the way they do and get away with it.

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