Apple's Market Value Tops Exxon Mobil Again

Tim Cook Apple CEO - P 2011
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Following record earnings late on Tuesday, the stock hit an all-time high on Wednesday.

NEW YORK — Apple's stock soared to an all-time high of $454.45 in early Wednesday trading following the record earnings that it reported late Tuesday.

Thanks to the boost, the company's market value once again was higher than that of oil giant Exxon Mobil, which saw its stock decline slightly amid a broader market decline. As of 10:20 a.m. ET, Apple shares were up 6.3 percent at $446.82, giving the company a market capitalization of $418.3 billion, compared to Exxon's $413.5 billion.

Apple's stock over the past year has traded as low as $310.50. It already had risen in after-hours on Tuesday.

The latest set of earnings seemed to give investors confidence that after the death of Apple co-founder Steve Jobs, the team of CEO Tim Cook can keep the tech company on a growth track.


Twitter: @georgszalai