Ap Reports: iPad Beats Out Big Oil as Most Valuable US Co., iPad Menu Top Investor Prospect2 min read

Apple, Inc. is officially the most valuable company in the United States as of the close of yesterday’s stock market exchange, according to a news report that was released by the AP on Wednesday.

The article states that, “Investors seem to think you want an iPad more than oil, as Apple Inc. became the most valuable company in the United States, surpassing Exxon Mobil Corp. on Wednesday [8/10/11].”

Apple typically climbs the ranks and ascends to the top place, only to fall below just before the markets close for the day.

But Wednesday was different.

After the market closed, Apple was worth $363.69 per share, or $337 billion in market capitalization.

Exxon, the second largest company in the US, saw its shares close at $68.03, which represents $331 billion for the company’s market cap.

The $6 billion dollar difference officially makes Apple the most valuable company in the US, for the time being.

Apple’s revenue has spiked dramatically to the tune of a 70% increase in net – or around $65 billion dollars – during the last fiscal year.

According to the AP report, “Apple’s earnings grew 35 percent and its revenue 14 percent.”

“Never underestimate the power of Joe Sixpack relative to expenditures on consumer electronics,” Gleacher & Co. analyst Brian Marshall told the Associated Press.

Even more interesting is that people are still racing out to buy iPads, even amid a recession.

Restaurants are also following suit in many major cities around the world, adding an innovative iPad menu to the mix to entice guests.

Apple has something new planned for 2013, as the company typically releases a new cutting edge product every three to four years.

What the future holds nobody can say for sure, but it’s safe to presume that Apple will remain on top as it continues to gain market dominance.

Apple’s sure footing during a time of economic turmoil suggests that the iPad may just be the most successful gadget ever invented.

From businesspersons who swear by the iPad to consumers who use the gadget as their personal computer, all the way to restaurants that use them for an iPad menu.

The iPad offers so many different uses and practical modern day applications that it’s not really any mystery why the company is fairing so well on the stock exchange.