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Apple is the world's most valuable company
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 13 Nov 2011

Apple is the world's most valuable company


Recently Apple became the world's most valuable company.

At the US stock markets the tech firm overtook Exxon company with a market value of $337bn compared to ExxonMobil's $334bn.

Exxon's value has been hit by the economic slowdown and depressed oil prices brought about by the financial turmoil. Its shares were as high as $87.98 in April but were trading at just under $70 in November .

Apple has shown gravity-defying growth and delivered record results after record results. Last month it produced another stellar quarter, strengthened by strong sales of its iPhones, iPads and record sales of its Mac computers.

It sold 20.34m iPhones – more than double the number in the same period last year – and 9.25m iPads, almost triple the number sold during its debut quarter in 2010.

The new iPhone 4s helped Apple to overtook Exxon and became the world's most valuable company.

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 Tags: iPad, Apple, SoftFern News, SoftFern Tech News, iPhone, Exxon, US stock market, world's most valuable company, tech firm
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