Apple Crests $700 Billion In Value, Now Easily The World's Most Valuable Company
CUPERTINO (CBS SF) - A little over a year ago, Apple was in a tight race with Exxon Mobile as the world's most valuable company. Today, its not even close.
Apple's market cap has topped $700-billion for the first time, about $300-billion dollars more than Exxon is worth, which is barely onto second place ahead of Microsoft and Google in value.
Apple's now worth twice as much as when CEO Tim Cook took over for Steve Jobs in August of 2011.
Wall Street analysts are expecting Apple's growth to continue, with a Stifel Nicolas analyst raising his price target on Apple from $115 to $130.
Note: After the close the valuation dipped back below $700 billion
