Apple could be world’s first trillion-dollar company

	Apple could be world's first trillion-dollar company Apple briefly surpassed Exxon Mobil on Tuesday as the nation's most valuable company. The iPhone and iPad maker had the lead for much of the afternoon before its stock closed just behind Exxon's. The two companies are so close that Apple is likely to keep the top spot soon. Apple's stock gained 5.9 percent to US$374.01 on Tuesday, bringing its market capitalization to about US$347 billion. Exxon Mobil Corp.'s stock, meanwhile, closed up 2.1 percent at US$71.64. That gives the oil company a market cap of US$348 billion. Its stock was down earlier in the day, allowing Apple to take the lead. Other big-name corporations, such as Wal-Mart Stores Inc. and General Electric Co., don't even come close. Apple overtook Microsoft Corp., the previous No. 2, just last year. Does this mean people need iPads more than oil? "Exxon obviously sells a product that people need. Apple sells a product that people want," said Brian Marshall, an analyst with Gleacher & Co. who follows Apple. Read more: www.3news.co.nz	From: TechnologyLoco Views: 1 0 ratings
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