Apple Inc is once again the darling of Wall St. thanks to some staggering stats. Apple briefly surpassed Exxon Mobile in becoming the number 1 most valuable company on the strength of 37 million iPhone sales (boosted by the iPhone 4S) and a massive liquid cash stash of $98 billion. Not bad for a company that was supposed to fall flat after the loss of Steve Jobs. And there’s no doubt that once the iPhone 5 lands, Apple will continue to crush the competition despite critics stating that Android will rule the phone market. Let’s not even get into the iPads, of which they sold about 15.4 million.
Here are some stats:
- Apple iPhone sales rose to 37 million from 20 million last period
- Apple stock prices rose to $468 from $429
- They now have a cash reserve of $98 billion, which is more money than the U.S. government has
- Over 15 million iPad’s sold
Excerpt: ““Those numbers are just unimaginable,” said Michael Obuchowski, chief investment officer at First Empire Asset Management, which has $4 billion under management, including Apple shares. “It’s still an extremely well-managed company and they are showing that the product pipeline is sufficient even now to generate growth rates that are unrivaled.” (source: BusinessWeek.com)