As of market close on Wednesday, Apple’s market capitalization totals $337.17 billion — $6 billion higher than Exxon Mobile at $330.77 billion — making Apple the most valuable company in the world. Apple’s market cap topped Exxon’s briefly during trading on Tuesday, but Exxon rallied ahead of close to regain the No. 1 spot. Shares of Apple stock fell 2.8% to $363.69 on Wednesday, while Exxon’s stock dropped 4.4% to $68.03 as trading closed. Mobile devices like the iPhone and iPad have helped breathe new life into Apple, which found itself on the verge of bankruptcy 15 years ago. While Apple and Exxon may bounce around as No. 1 and No. 2 in the days and weeks to come, Apple’s climb from dire straights to the world’s most valuable company will likely be studied in business schools around the world for decades. Apple is expected to launch new iPhone and iPad models this fall.
HTC on Friday reported first-quarter 2011 earnings highlighted by profit that handily beat analysts’ estimates. Tremendous demand for the company’s popular Android smartphones such as the EVO 4G and ThunderBolt helped HTC record a first-quarter profit of NT$14.83 billion ($511 million) compared to analyst expectations of NT$12.99 billion. HTC said its first-quarter revenue grew 174% to NT$104.2 billion, and analysts believe continued strong demand for Android devices will help HTC’s revenue grow up to 20% in the second quarter of this year. BGR on Thursday reported that HTC’s market capitalization, which recently surpassed that of Finnish phone giant Nokia, is expected to surpass NT$1 trillion this year, making HTC only the third company on the Taiwan Stock Exchange to reach the milestone. Share of HTC stock closed down 3.33% on Friday.
HTC’s market capitalization is expected to soon surpass NT$1 trillion according to a report on Wednesday from Taiwan Economic News. The company’s market cap recently passed the NT$900 million mark, and analysts believe it will grow beyond NT$1 trillion — just below $35 billion USD — this year. As HTC pushes out popular devices like the EVO 4G, Legend and Desire, the company’s shipments and revenue continue to grow; HTC shipped 25 million devices in 2010, a 111% increase over the prior year, and it forecasts revenue growth of 147% in 2011. Should HTC’s market cap surpass NT$1 trillion this year, it will be just the third company on the Taiwan Stock Exchange to reach the milestone, joining Taiwan Semiconductor Manufacturing Co., Ltd. and Foxconn parent company Hon Hai Precision Industry Co., Ltd. More →