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Apple Stock Hits Record $552 Per Share

Market cap now beats Exxon Mobil by over $100 billion

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Apple Stock Hits Record $552 Per Share
[ Business]

Apple’s stock price surged yesterday to close at a record high $552 per share. At the same time, the company’s market capitalization exceeded $514 billion. Several months ago Apple passed Exxon Mobil to become the most valuable company in the world. Apple’s $514.67 billion market capitalization extends the company’s lead over Exxon to more than $100 billion. Exxon’s stock closed yesterday at $85.55 per share, and the company’s market capitalization is currently $403.22 billion.

Apple has gained over $14 billion in market capitalization in just two weeks. The company passed the $500 billion mark at the end of February, with a stock price of $542 per share. At the time, rumors of the forthcoming iPad were thought to be partially fueling the increase. With the new iPad unveiled last week and set to be available on Friday, Apple’s stock has continued its remarkable rise.

This all follows a record year for Apple. In the last quarter of 2011 the company generated revenues of $46.33 billion. Revenues from the iPhone made up over half that – and even exceeded Microsoft’s total revenue. With the release of the latest iPad just days away and the next iPhone coming later this year (and maybe an iTV?), it’s a safe bet that Apple will continue posting these kinds of records.

Apple Stock Hits Record $552 Per Share
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