Exxon Mobil Overtakes Apple To Become Most Valuable U.S. Company

[OhioChick]

Source: Reuters

01/25/2013 12:17 pm EST

NEW YORK (Reuters) - Exxon Mobil briefly overtook Apple as the largest U.S. publicly traded company by market value on Friday as shares of the technology giant continued to fall.

Apple shares traded down 2 percent on the day at $441.31, down from a high above $700 set in September, for a market value of roughly $416 billion. Exxon shares, flat on the day at $91.33, added to a market value of about $416.5 billion.

Apple has closed the day as the largest company by market capitalization since late January last year, when it passed Exxon.

Read more: http://www.huffingtonpost.com/2013/01/25/exxon-mobil-overtakes-app_n_2551404.html

[onehandle]

1. 74% of smartphones sold by AT&T and Verizon last quarter were iPhones.

And have a profit margin much higher than their closest competitor, Samsung.

Wall Street is clearly based on nothing.

[ChromeFoundry]

2. And more than 50% of those sales were old models

U.S. carrier Verizon Wireless said this week that more than half of the iPhones it sold in Q4 were older models sold at deep discounts.

People are not buying the iPhone 5 like the demand was for the iPhone 4.
iOS 6 was and is riddled with bugs.
Apple's quality has a big black eye.

Wall Street is based on more logic than Apple's fanatical followers.

[onehandle]

3. Big shock. More people buy the cheaper model. Apple still profits the same.

The resellers can undercut themselves as much as they want. Only makes more money for Apple.

Last quarter: Microsoft revenues: $21.46 billion. iPhone revenues: $30.66 billion.

Yes, just iPhone.

Apple's doing fine.

[ChromeFoundry]

4. Samsung manufactures 28% of the parts in an iPhone 4

I'd say that are not doing too bad either. Those profits are not added into their smartphone profits...so, it's just gravy.
They still manufacture parts for the iPhone 5, but only about 18%. Since Apple insists on thwarting their competition through the use of lawsuits, all Samsung would need to do is increase the cost of the chips they manufacture and they could bring the competition closer. But Samsung is making profits on Apple's profits... so why bother?

[louis-t]

5. And STILL Exxon gets big welfare checks from us.

[L0oniX]

6. A USA company??? ...Fucking Exxon Mobil is it's own country!