Apple has overtaken oil group Exxon to become the world’s most valuable company by market capitalisation.
The tech company has been closing in on Exxon for some time and was “just” $50bn (£30bn) away from taking the lead when it reported yet another quarter of record-breaking earnings on 19 July.
As the US stock markets bounced back from last week’s crash the tech firm overtook Exxon with a market value of $337bn compared to ExxonMobil’s $334bn. Exxon could easily slip back into the lead if the recent fears for the global economy subside but the gap is so close that these two corporate behemoths look certain to be battling it out for quite some time.
Steve Jobs was fired from Apple in 1985 as the company lost its way and Microsoft-powered PCs seemed destined to dominate the market. When he returned to the company in 1997, the troubled firm was worth just $2bn. He led a renaissance at the company, focusing on design and innovation and setting what seemed like impossibly ambitious targets.
Starting with the brightly coloured iMac, Apple redefined the consumer electronics market at a time when the internet was just going mainstream. The iMac was followed by the iPod, which revolutionised the music industry. Then came the iPhone and the iPad. Each new release has driven Apple to new heights.
There we have it, Apple have revolutionised the way we access data, use our phones and access music, what other markets can you see apple changing?
Tags: Anthony Caton, Apple, Business, IMac, iPad, iPhone, IPod, Public Relations, Steve Jobs, www.ac-pr.co.uk
