Apple’s huge earnings yesterday has just shot them through the roof as they battle for the status of largest company in the world with Exxon Mobil.
Apple’s stock rose nearly six percent in midday trading according to the Mercury News. This put their individual stock price at $445.29 which put their market cap at $415 billion. Exxon’s share price was down one percet at $86.52 per share with a market cap of $414 billion.
The two companies have been battling all day back and forth for the top spot in market value. There has only been $1 billion standing between them for most of the day.
This new momentum for Apple has some shareholders hoping that Apple will use it massive reserves of cash to pay investors back in the form of a dividend. Reuters reports that Apple, which last paid a dividend in 1995, is “actively discussing” the cash balance but didn’t have anything to announce.
“We do believe the company should examine a meaningful dividend closely and are intrigued by the possibilities around any sizeable acquisitions that could improve its wireless and online services,” Barclays Capital wrote in a note to clients, according to Reuters.
As of right now, Apple’s stocks are selling for $447.45 per share and Exxon’s are selling for $86.54 per share. Apple’s market value is staying steady at $415 billion and Exxon’s is staying at $414 billion.
The prices can and will fluctuate over the day, but we can call it as of now that Apple is once again the number one most valuable company in the world.