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Apple has bumped Google out of first place as Silicon Valley's most valuable company. With the total value of its publicly traded stock at US$224 billion, up 107% from a year ago, Apple now has a market capitalization greater than all but two companies in the U.S, Exxon Mobil and Microsoft, reports the "Silicon Valley Mercury News" (http://www.mercurynews.com/science/ci_14900422?source=rss&nclick_check=1).
Last year, amid the worst recession in decades, the company recorded a 39% ncrease in profit to $9.4 billion. That was the highest profit earned by any company in the SV150, according to the "Mercury News." Apple's revenue grew 20% percent to $46.7 billion, returning the company to its standing as Silicon Valley's second-largest by revenue, a ranking it hasn't held for 23 years.
The "Mercury News" says that last year, one of every five dollars Apple took in was profit, giving it a profit margin three times that of Hewlett-Packard, the valley's revenue leader. Much of Apple's profit came from the iPhone, now its best-selling product, garnering $15.7 billion in sales last year, the article adds.
Last month Apple became the third largest company in America by market cap, overtaking Wal-Mart for the number three position. At $236.86 the market cap of Apple is roughly US$214.75 billion, compared to Wal-Mart at $55.95 with a $212.9 billion market cap.