Apple is more valuable than oil

Published:  February 11, 2011
Apple is more valuable than oil

Analysts have been doing what they do best and have analysed the current state of the market. They’ve concluded that Apple should be the most valuable company on earth. Yes, more valuable than Exxon Mobil.

Five firms have increased their 12 month forecast of Apple’s shares to USD $467 per share. This would mean that the company would be worth USD $433.2 billion – in comparison to current number one Exxon Mobil at USD $423.2 billion.

Now that Apple has announced increased sales across its line of phones, computers and tablet computers, as well as the long awaited availability of the iPhone on Amerca’s Verizon phone network, analysts can only see profits soar even higher than they have been – and Apple’s profits have already been setting records in the industry.

“iPhone sales are tracking above our last forecast, triggering an upward revision in our forecast of phone sales going forward,” wrote Charles Wolf, an analyst for Needham, in a report yesterday, that placed a USD $450 price target on the stock.

If you had bought shares in Apple in the mid-90s, you’d be sitting on a gold mine right about now.

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