Apple becomes world’s most successful company

Based on the value of its global stock, Apple is now the most successful company on the planet. The stock exchange may currently be painting a grim picture for many businesses, but Apple continues to thrive with a total market capital of US$337-billion and a share value of US$363.

The multinational company beat off companies like oil giant ExxonMobil in terms of overall corporate value. ExxonMobil’s stock fell to US$68 per share; this lowers their total valuation to US$330.8-billion.

While Google may still have the most valuable shares at US$549 per unit, their total market capital is US$177-billion, which is a far sight smaller than Apple’s.

Last year, Apple managed to eclipse Microsoft as the biggest technology company in relation to the market cap — this refers to the number of shares still outstanding multiplied by stock price.

Since 2001, Apple chief executive Steve Jobs has assisted in raising the value of the stock thanks to his guidance around product design, particularly with regard to the iPhone and iPod range.

Apple’s rise to the leading position in the stock market is seen as something of an industry miracle given that 15 years ago the company was nose-diving towards a financial meltdown.

In 1980, Apple’s stock was first introduced at US$22 per share. The 1980s were a rough period for Apple with their home computers producing dismal sales. Jobs left the company after 1984 due to an internal power struggle between himself and the board of directors.

Prior to Jobs’ 1997 return, many had labelled Apple as “one of the worst-managed companies in the industry“. The return of Jobs heralded the launch of the iMac, the iBook, Mac OSX and the iPod. Apple managed to claw its way back into relevance and to redefine itself as a company to be reckoned with. –AFP with additional reporting by Staff Reporter.

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