At the risk of gross understatement, Apple Inc. (NASDAQ:AAPL)’s stock has gone through the ups and downs of a roller-coaster in the last year. A roller-coaster that rose for years before making the inevitable plunge. Unlike a roller-coaster that people pay in order to take the plunge, this plunge cost investors billions.
Today, however, saw Apple Inc. (NASDAQ:AAPL) return to its place as the most valuable company in the world by market capitalization. Apple lost this distinction earlier this year to Exxon before today’s trading once again turned the tables.
Apple Inc. (NASDAQ:AAPL) saw its market cap eclipse $414 billion during today’s trading when Apple stock reached $456.80 in early trading. At the same time that the Cupertino company was on the assent Exxon Mobil Corporation (NYSE:XOM) shares slid over 2% this morning seeing its market capitalization slip to $408 billion following its disappointing earnings call. While these two may very well leap-frog each other for some time the day belonged to Apple.
No company could touch Apple Inc. (NASDAQ:AAPL) in this measurement for the whole of 2012, but late year losses coupled with a continued decline in 2013 saw Exxon Mobil Corporation (NYSE:XOM) move into the top spot.
In the last month, shares of Apple Inc. (NASDAQ:AAPL) have been enjoying a sizable turnaround having gained nearly $50 for the month of July. The stock began its upswing before beating the Street’s expectations for the quarter when it reported strong sales of its iconic iPhone. The company’s stock is still trading around $100 off its all-time high that it reached in September 2012.
Exxon overtook Apple Inc. (NASDAQ:AAPL) in late January this year when Apple’s market cap was around where it finished today. In even better news for Apple, during the stock’s lull, rather dive, the company was able to ramp-up its planned stock repurchase at a number considerably lower than it is trading today.
Just as Apple Inc. (NASDAQ:AAPL) reached its all-time high in September based on expectations around new products, investors are hoping that Apple Inc. (NASDAQ:AAPL) will be able to continue its rise with the anticipated debuts of new iPhones and iPads. Among the products expected are a so-called “iPhone 5S,” a new low-cost iPhone, a thinner and lighter fifth-generation iPad, and a second-generation iPad mini.