Apple stock yesterday broke $500 per share for the first time. The Cupertino company is now worth $465 billion, making it by some distance the most valuable company in the world.
According to Apple Insider, Apple shares ended the day's trading at $502.60. It now has a 17 per cent lead over its nearest rival, Exxon, which is worth a paltry $400 billion, and is worth more than Microsoft and Google combined.
Apple achieved the milestone thanks in large part to its latest financial results, which it announced last month. In the final three months of 2011 it made $46.3 billion in revenue, selling over 37 million iPhones, 15.4 million iPads, and 5.2 million Macs and posting a staggering quarterly profit of over $13 billion.
Source: Apple Insider