Apple now Silicon Valley's most valuable company
Apple has bumped Google out of first place as Silicon Valley's most valuable company. With the total value of its publicly traded stock at US$224 billion, up 107% from a year ago, Apple now has a market capitalization greater than all but two companies in the U.S, Exxon Mobil and Microsoft, reports the "Silicon Valley Mercury News" (http://www.mercurynews.com/science/ci_14900422?source=rss&nclick_check=1).
Last year, amid the worst recession in decades, the company recorded a 39% ncrease in profit to $9.4 billion. That was the highest profit earned by any company in the SV150, according to the "Mercury News." Apple's revenue grew 20% percent to $46.7 billion, returning the company to its standing as Silicon Valley's second-largest by revenue, a ranking it hasn't held for 23 years.
The "Mercury News" says that last year, one of every five dollars Apple took in was profit, giving it a profit margin three times that of Hewlett-Packard, the valley's revenue leader. Much of Apple's profit came from the iPhone, now its best-selling product, garnering $15.7 billion in sales last year, the article adds.
Last month Apple became the third largest company in America by market cap, overtaking Wal-Mart for the number three position. At $236.86 the market cap of Apple is roughly US$214.75 billion, compared to Wal-Mart at $55.95 with a $212.9 billion market cap.