Apple passed ExxonMobil as the most-valuable publicly traded company several times yesterday, but ExxonMobil ended the day ahead of Apple. Both companies' stock prices were down today, but XOM fell quite a bit farther, making Apple the most valuable public company in the world.
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Apple closed the day at $363.49, with a market cap of $337.17 billion. Exxon Mobil ended at $68.03, with the company valued at $330.88 billion.
Apple might be worth more than Exxon Mobil, but XOM remains a much bigger company. Exxon made $10.7 billion in profit on $121.4 billion in revenue in the June quarter with 83,600 employees.
Apple made $7.3 billion on $28.6 billion in revenue with 46,600 employees last quarter.
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(View all)That's all very nice but what will it bring to humble users like me? I don't own Apple stock, just buy their stuff. It's about time Apple starts doing some good with that $76 billion stock pile of cash. Good for humanity, expensive trinkets don't fill children's empty bellies.
Actually, yes they do...
I wish people understood a little bit about basic economics before spouting off righteous crap.
Apple's success probably feeds more empty bellies than all the charities in the US combined. By producing these products, there are millions of people who gain a livelihood (directly employed by Apple, employed by contractors, providing services (like restaurants) to these people, the vast number of people employed by adjunct businesses like accessories, and repairs, etc...).
The cash isn't just sitting around (I doubt even a few of those $76Bn are in paper currency form). It is invested in a variety of financial instruments across the world.
Apple might be worth more than Exxon Mobil, but XOM remains a much bigger company. Exxon made $10.7 billion in profit on $121.4 billion in revenue in the June quarter with 83,600 employees.
Apple made $7.3 billion on $28.6 billion in revenue with 46,600 employees last quarter.
I wonder how much more profit/revenue Apple would make if Apple was given the same tax incentives that oil companies are given....
Business comeback story of the century.
Wish I'd bought shares 15 years ago..!
Yeah, I wish I did a lot of things 15 years ago. :)
Tony
Actually, yes they do...
I wish people understood a little bit about basic economics before spouting off righteous crap.
You are generally correct but let me point out that Apple is no Microsoft in terms of feeding the ecosystem. During the 90s and 00's, more companies -more PEOPLE - benefitted from Microsoft being the king of technology than Apple.
There was a great article -I think- in the WSJ about how the economics of Apple is much different -shall I say bitter- than when Microsoft was at the top of their game. Microsoft was not afraid of spreading the wealth around because it only helped them become larger, stronger, and, well, richer.
Apple does not play that way and they make sure very few people truly profit from their success.
So before you become any more cheeky with your 'I wish people' talk, let's be clear on how much 'help' Apple is giving the rest of the industry - very little.
Lastly, look at the number of employees Microsoft has made into millionaires compared to Apple.
In the end, Apple just can't compare...
Preparing to be downgraded in 3... 2... 1...
-P