Apple Stock at All Time High Following iPhone 4S Launch

Apple’s stock price was at its lowest in a month, right after Apple unveiled the iPhone 4S on October 4. Fans and investors, who were expecting a new iPhone 5, were disappointed when Apple launched only one device, the iPhone 4S. Its stock price dropped down to $357 right after the announcement.

However, the iPhone 4S sales figures were quite surprising. Apple ringed in more than a million pre-orders in the first 24 hours, and over 3 million pre-orders of the iPhone 4S in the first weekend after the announcement.

Today, its stock price hit an all-time high of $422, which is around 20% higher than its recent low of $357. It now has a market cap of around $391 billion, giving it a $11 billion lead over Exxon Mobil, which now has a market cap of just under $380 billion.

Apple Stock Price

Contrary to expectations, the news of Steve Jobs’ death didn’t push the stock price down. In fact, it has appreciated steadily since.

At this rate, Apple’s stock will soon breach the $500 billion market cap. I expect it to happen after Apple launches the iPad 3 and iPhone 5.

Apple is Now the Most Valuable Company in the World

The moment I have been waiting for is finally here. In the past few months, we have seen Apple’s stock gradually scale new heights. Apple’s market capitalization first exceeded the market capitalization of its arch nemesis, Microsoft, almost a year back.

Right now, it’s almost $120 billion ahead of Microsoft.

It had been the second most valuable company in the world for a few months now, and has been closing in on its target – Exxon Mobil, the number one corporation in the world by market cap.

Today, it has surpassed Exxon Mobil, to become the most valuable company in the world. Apple now has a market capitalization of $349.49 billion, compared to Exxon Mobil’s market cap of $349.42 billion.

I’ve attached the screenshots, just in case you miss it if the stock prices fluctuate too much.

XOM: $341.42 billion. AAPL: $341.49 billion. #LikeABoss


Exxon Mobil

Go Apple!

Update: Apple seems to be back below Exxon Mobil again, due to some price fluctuations. However, I’m sure it’s only a matter of time before it regains its number one status.