PRINT
What you don't know about Apple iPhone's interactive voice, …
Apple stock breaks $500 level, continuing rally
Apple products (Photo by Justin Sullivan/Getty Images)
Posted: 02/13/2012
NEW YORK - Apple's stock broke above $500 for the first time Monday. It was the latest step in a rally that began more than two weeks ago, when the company reported staggering sales and profits for the holiday quarter.
Apple Inc. has been trading the position as most valuable company in the world with Exxon Mobil Corp. since last summer, but the latest rally has made it 17 percent more valuable than the oil company. Its market capitalization is now $465 billion, compared to Exxon's $400 billion.
On Jan. 24, Apple posted net income of $13.06 billion for the quarter that ended in December, more than doubling its profits from the year before. Sales were $46.3 billion, up 73 percent from a year ago.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
The web is buzzing with rumors that Apple will turn to an alloy…
John Matarese reports on some downsides of the new iPad owners …
Top Stories
-
Restaurant fire in Oakley causes damage
Firefighters responded to Boca restaurant located at 3200 Madison Road for a kitchen fire, around 5:45 p.m. Saturday.
-
After 35 years memories just as vivid
-
Dozens of children killed in new Syria
-
Police: Man stabs cousin in Middletown
-
Police seize $64K in heroin
