"Hubba, hubba, hubba! Money, money, money! Who do you trust?" (Source: Warner Bros. Pictures)
Apple is now worth more than Microsoft and Google combined
While Apple has been in the news lately for allegations of unfair labor practices at its contracted manufacturing facilities in China, that hasn't stopped the company from increasing value for its shareholders and sending it surging ahead in market capitalization.
Today, AAPL crossed the $500/share mark for the first time in its history this morning. The stock has surged over 17 percent in the weeks following its blowout fiscal Q1 2012 earnings report. The company reported revenue of $46.33B USD and net profit of a whopping $13.06B. In addition, the company sold a record 37 million iPhones during the quarter.
Apple is currently ranked as the largest company in the world by market cap. In addition, Apple's market cap is currently more than both Google and Microsoft combined.
Following Steve Jobs' resignation as CEO in August 2011, AAPL hit a [then] all-time high of $411 pushing it ahead of Exxon Mobile as the world's largest company by market cap.
Source: Bloomberg
"Spreading the rumors, it's very easy because the people who write about Apple want that story, and you can claim its credible because you spoke to someone at Apple." -- Investment guru Jim Cramer
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