Apple hits new all-time high, heads for half-trillion market cap

SEPT 21 UPDATE: Apple shares hit another all-time yesterday, and in mid-day Nasdaq trading today were up a further 0.44%.

The latest rise - which follows a brief dip following the resignation of chief executive Steve Jobs - firmly establishes the iPhone and iPad maker as the world's most valuable company (a position it first gained, briefly, during August; see below).

Apple's market cap is now $US383.31 billion, comfortably ahead of the previous most-valuable company, Exxon Mobil, valued at $US359.85 billion.

The spur for today's rise was news that Apple has inked a deal to sell the 3G version of its iPad 2 in China.

Credit Suisse report said Apple could generate an extra $US88 billion in annual sales from China and other emerging markets by 2015.

Click to enlarge. Source: Capital IQ

AUG 10, 2011: Apple briefly became the world's most valuable company today, with its market cap edging ahead of oil giant Exxon Mobil.

In early US trading, the Nadaq-listed Apple's market capitalisation hit $US341.5 billion, just ahead of NYSE-listed Exxon's $US341.4 billion.

Exxon nosed ahead again later in the day.

Apple [NAS:AAPL], whose market cap was under $100 billion as recently as April 2009, passed Microsoft to become the world's most valuable technology company in April 2010. It's recently been surging on the success of its iPhone, iPad and associated AppStore. Exxon [NYSE:XOM] has been falling as oil prices ease.

Fortunes can quickly fade. Nokia - which momentarily held the most-valuable crown during the 1990s tech-boom - today has a market cap of just over $US19 billion.

But, for now, Apple certainly seems to have momentum. Its third quarter results saw a three-month net profit of $US7.31 billion, compared $US3.25 billion for its 2010 fiscal third quarter. The company sold 20.34 million iPhones in the quarter, representing 142% unit growth over the year-ago quarter, and 9.25 million iPads, representing a 183% growth.

Apple fans hope for further boosts from future gadgets.

For Exxon - well, the oil's going to run out.

By the numbers (trailing 12-months; $US):

REVENUE
Exxon Mobil: $392.72 billion
Apple: $100.03 billion

NET INCOME
Exxon Mobil: $37.93 billion
Apple: $23.6 billion

CASH
Exxon Mobil: $US10.04 billion
Apple: $75.80 billion

DEBT
Exxon Mobil: $16.49 billion
Apple: none

Source: Capital IQ