MacDailyNews - Where Mac news comes first

 MacDailyNews Poll

Deal of the Day

5 Day Most Commented

Opinion Archive

Current Headlines

Latest Joy of Tech

  • Latest Joy of Tech!

MacNN

AppleInsider

Macworld UK

TUAW

MacRumors

Yahoo! Finance AAPL

iTunes Top 10 Albums

Mac OS X Downloads

Thu, Sep 02, 2010 - 01:21 PM EDT  —  AAPL: 250.03 (-0.30, -0.12%)  |  NASDAQ: 2186.18 (+9.34, +0.43%)

Apple may soon pass Exxon to become the most valuable U.S. company
Thursday, July 29, 2010 - 08:18 PM EDT

Apple Store"Better watch your back Exxon Mobil," Paul R. La Monica reports for CNNMoney. "No, I'm not talking about tough competition for the oil giant from rivals like Chevron, Royal Dutch Shell and ConocoPhilips."

Advertisement: The New iMac - The Ultimate All-in-One. Turbocharged. Starting at $1,199.00 $1,164.99

"Exxon Mobil, which is currently the most valuable company in the U.S. with a market capitalization of $286 billion, has to listen for the footsteps of Apple," La Monica reports. "Of course, Apple doesn't compete with Exxon Mobil -- although given time I'm sure that someone will find a way to create an app that turns your iPhone into an oil rig."

"But Apple now is the second most valuable company in the land. It has passed Microsoft and Wal-Mart this year and now trails Exxon Mobil's market value by only about $50 billion," La Monica reports. "That may sound like a whopping gap but it really isn't -- especially given how well Apple has done compared to Exxon Mobil lately. Consider this: At the start of the year, Apple's market value was nearly $125 billion lower than Exxon Mobil's."

"Apple shares currently trade at about $260. Many analysts think that a price of $300, a 15% jump from here, is reasonable given that Apple's got strong sales and earnings momentum on its side," La Monica reports. "If that happened, all it would take is for Exxon Mobil's stock to fall about 5% from current levels for Apple to leap ahead of it in market value."

La Monica reports, "That also seems like a rational proposition since it's tough to imagine oil prices heading substantially higher in the near future as the economic recovery appears to be stalling."

Full article here.

Bookmark and Share

Always -- Free ground shipping with orders over $50 at the Apple Store.

Reader Feedback: = registered.
Unregistered users: Feedback from multiple usernames are subject to deletion. Off-topic and posts from suspected astroturfers will be removed.

Reader feedback page 1 of 1 pages:
Jul 29, 10 - 08:25 pm Comment from: iPhoner

Apple just passed Walmart. LOL
One of the best passes one of the worst.

Jul 29, 10 - 08:32 pm Comment from: Ampar

It all depends on what's in the pipeline.

Jul 29, 10 - 08:36 pm Comment from: Hipoisie Squared

@ iPhoner

Hate to be the one to update you, but Apple surpassed Walmart in market cap some time ago. 'Just' sayin'..

Jul 29, 10 - 08:50 pm Comment from: Cascadians

Steve says great new stuff in the pipeline, out by end of this year!

Jul 29, 10 - 08:57 pm Comment from: disposableidentity

@ Cascadians, Apple's pipeline looks better -- and another product leak would hurt Exxon more than it would hurt Apple.

Jul 29, 10 - 09:05 pm Comment from: Ampar

Pretty slick, disposableidentity. You know the drill.

Apple has reason to be pumped up. Exxon just has pier pressure.

Jul 29, 10 - 09:10 pm Comment from: Ampar

Later this year, Apple will make Exxon look really fuelish.

Jul 29, 10 - 09:36 pm Comment from: MizuInOz

These comments today are a gas. Some of the best puns in a long time. Very WELL done. If you roustabout enough, I am sure you will have a gusher of think crude flowing.

Remember BP - the company that brings oil to your shore... so did Exxon a while back.

When Apple finds a good play, it is techie gold! Bubbling, dude!

Cheers.

PS: Just got my iPhone 4 - 10 hour wait in line here in Brissie - Optus. 5 Bars where I used to have none....
So, I guess Apple needs to fix that attenuation problem.
tongue rolleye

Jul 29, 10 - 09:39 pm Comment from: Ml

Would love to see aapl at 300, but it just doesn't seem like it'll do it in next few months.

Jul 29, 10 - 09:42 pm Comment from: Too Bad

And with this distinction comes the demise of the company that we came to love, that used to care about its customers, that produced superior products without defects and do so without the blistering arrogance that has come to be the hallmark of Steve Jobs' management style.

Too bad.

Jul 29, 10 - 09:51 pm Comment from: iAppleTennisU:-)

Apple's pie is getting Bigger for sure as the revenue numbers proves it every three months!!!

No gas fuels AAPL's growth yet it's Great products out it's cleaner pipeline that does. Ok a news leak at times! Still does not hurt Sales!

Lots of people will really be jealous when Apple becomes #1 by next year 2011 grin

Jul 29, 10 - 10:04 pm Comment from: Ampar

Microsoft could teach Exxon how to make better vaporware.

Jul 29, 10 - 10:46 pm Comment from: m159

When I bought my AAPL stock (single digits, split adjusted), brokers were all saying the company was going out of business. Yet Apple had no debt, $1.5B, in the bank, and made money most quarters. More importantly they had the better computers by far, Steve Jobs had brought out the iMac, OS X and a new thing called the iPod.

Oh how many iPods can they sell?, says one broker, for tech you need MSFT, CISCO, and DELL.

As it turned out they could sell a lot of iPods. But the key point was that Apple was already a fountain of brilliant new ideas > transcendent products, and the other companies had no vision at all. I bet on things no one had seen yet.

Jul 29, 10 - 11:07 pm Comment from: January 24, 1984

But Exxon is slick.

Jul 29, 10 - 11:40 pm Comment from: ken1w

@ Ampar

You're killing me with your puns. The first one was the best. smile

Jul 29, 10 - 11:44 pm Comment from: Passin' Through

What? No comment about passing gas? Thanks, be sure to try the Veal.

Jul 30, 10 - 12:30 am Comment from: BurningZeppelin

300 is gonna happen first semester next year. What do you think gonna happen when Mac OS X 10.7 comes out? Inevitable.

Jul 30, 10 - 12:31 am Comment from: tomL

Apple's pipeline is slicker than XOM's, well oiled.

Jul 30, 10 - 01:45 am Comment from: Lurker_PC

You people are just crude!

Jul 30, 10 - 02:46 am Comment from: MacMatte

With all those profits, it's ridiculous that Apple can't even offer a matte screen, anti-glare option on its iMacs.

The 1,000+ petitions at the petition site http://macmatte.wordpress.com/comment-page-1/#comments shows there are a substantial percentage - around 20-40% depending on which survey you look at - that need matte screens.

Generally, these are:

- the percentage of the population that is susceptible to eye-strain and migraine headaches from the glossy screen;
- graphic artists
- photographers
- people who use their Macs in bright sun-lit areas

We're not saying matte screens are for everyone -- but there should be a choice.

If you're in desperate need of a matte screen on your iMac, you might add your petition to the growing list at http://macmatte.wordpress.com/comment-page-1/#comments

Jul 30, 10 - 02:52 am Comment from: Oh Nooooo!

Not the Matte screen discussions again!!

Jul 30, 10 - 03:05 am Comment from: kizedek

@Too Bad
"...without the blistering arrogance that has come to be the hallmark of Steve Jobs' management style."

Oh come on, he's neither more nor less arrogant than he was 30 years ago. Why do you say so? Because as CEO of second largest company he takes time to write a few emails to the public, but they are necessarily short and to the point? Because the success (as opposed to all others' non-success) of the company has a lot to with focus and simplified product lines where they bet on the future and discard legacy without remorse.

On the contrary, I think of Ballmer as arrogant -- all the misguided hubris, all the casual dismissing of Apple's efforts, all the pooh-poohing of reality, the expectation that the world should really give a c*ap when he opens his mouth to say anything. And MS, what arrogance, what gall to act like people need their products and act like there really is no alternative (still) to MS if you want to function in the real world; to act like that and still not to improve their products -- what complete and blistering arrogance! It's staggering and stomach-turning.

Jul 30, 10 - 03:50 am Comment from: GeeOne

@ron,
I'm willing to bet money that you're a Ted Haggard fan.

Jul 30, 10 - 07:21 am Comment from: FutureMedia

The annual iDevice press conference in September will reveal a lot. I hope a FaceTime capable 128GB iPad and 128GB iPod Touch running iOS 4.1 will be part of those announcements. If so, they could propel iDevice sales even further into higher orbit for this coming holiday sales season helping AAPL pass Exxon Mobile sooner than later. smile

Jul 30, 10 - 09:19 am Comment from: jtc

@MacMatte

if a photographer or graphic artist cant work with a glossy screen then they need to quit, sell all their stuff and find another profession. Anyone doing professional work involving color uses a calibration system.

The only validity I see is the people with the eye strain and migraines. Sucks to be them. But you can buy an anti glare screen for it. I remember when apple gave the option of both.. and then slowly faded out the matte. Knowing Apple, im sure they looked at sales figures and said.. ok majority buys glossy.. we are keeping that. And im sure it keeps costs down a little to be only doing one kind of screen now.

People who use their laptop in bright sun-lit areas already know you will get glare on any device.. glossy may not help but there are always solutions to the problem for people who need it.

Jul 30, 10 - 09:29 am Comment from: Jersey_Trader

$300 on it's way to $400. Also, keep in mind that Steve Jobs talked about some new products, devices and / or services this year. The unknown is not in the stock price yet.

So, what do you all think Apple will do with that BILLION DOLLAR SERVER FARM this year? Yes, IT is on schedule (or already fired up). 400 to 500 percent greater cloud capacity for Apple. On schedule for WHAT????? ... "Just one more thing"!!!

Jul 30, 10 - 09:34 am Comment from: DUH!

Apple stakes Gas Claim and Sets drilling and capture Operations. Microsoft buys offshore energy drilling and production operation BP.
Balmer surprised that Apple is making 100 Billion Dollars from it's Balmer Methane Gas Operations in Redmond, WA. Microsoft lost 250 Billion Dollars in it's purchase and then closure 90 days later of it newly purchase BP unit. Microsoft's stock falls sharply as investors agree that Persident and CEO of Microsoft Steve Balmer is a looser who's good at 2 things 1) breaking chairs while acting the fool and 2) producing huge amounts of Methane Gas (for which Apple owns all the right too.)

Jul 30, 10 - 06:29 pm Comment from: jmmx

Even if Apple does pass Exxon, it may be only temporary. If we ever get out of the Great Republican Recession, then demand for oil will rise rapidly,along with price and profit margins. Apple will also benefit, but not to the same extent.

Aug 02, 10 - 11:32 am Comment from: Karlv

From what I have hears Exxon's stock will rise because it has lagged the rest of the industry so it might be hard for Apple to overtake them any time soon.

Reader feedback page 1 of 1 pages:

Always -- Free ground shipping with orders over $50 at the Apple Store.

Add Your Feedback:

Register or Login

Name:

Email: (optional)

Emoticons | Allowed HTML Tags

Remember my info   Notify me of follow-up comments?

Please enter the "MDN Magic Word" you see in the image below: