Apple has again become the stock market king as rumors of upcoming next-generation iPhones and iPads are spreading.
Apple toppled Exxon Mobil from its number one spot as its market capitalization went up by 0.9% to $414bn. Exxon overtook Apple's market cap in late January of this year, amidst a continued sell-off of AAPL stock. It lost the title last Thursday as its shares were down 1.8% on its disappointing earnings report, giving the firm a market capitalization of $409bn, Market Watch reports.
Apple share price has last reached $457. However, the company is
still $100 short from the beginning of 2013. Last September 2012,
the company’s share price went as high as $700, its highest so
far, ibtimes.com reports. Overall the tech giant’s stock
surged 14% in July, though that still left it down 14% so far
this year, according to the MarketWatch.
Investors are hoping that the company can now gain its momentum
as consumers anticipate the debuts of the iPhone 5S, iPhone 5C,
which is a low-cost iPhone, a fifth-generation iPad, an iPad mini
with retina display and iWatch, ibtimes.com reports.
In July Apple’s share of the smartphone market dropped to 14 per
cent, it’s lowest for three years. This happened against growing
leadership of the South Korean tech-giant Samsung (33,1% of sales
in the second quarter). An increasing popularity of Chinese
manufacturers Huawei and ZTE, producing lower price smartphones
have also helped Apple lose market share, newsru.com reports.