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.