Well it was bound to happen, but it did so sooner rather than later. Apple’s valuation briefly went past Exxon Mobil yesterday.
Exxon Mobil have held the top spot for a long time now and at the end of trading yesterday their market cap closed at $352.9 billion. Apple managed to sneak past Exxon briefly during trading, but closed yesterday with a market cap valuation of $346.74 billion.
A Forbes report discussing Sonos Chief Executive John MacFarlane shows that TV might be their next venture.
“Like Apple, MacFarlane’s company builds boxes — in his case networked home stereo systems — so he knows the terrain. His theory: Apple will have to attack the $100 billion television business next.”
They add “To grow, Apple will be pushed into bigger business where it remains unproven. The result could be products more people will enjoy. Or they could suck — and if they suck, everyone’s going to notice it.”
The report adds however that Apple aren’t known to take stupid risks “Apple is treading carefully too. It has $75.2 billion pile of cash and securities billion in cash and securities. It keeps its product lines simple. It avoids big acquisitions. It sticks to what it knows: consumers.”
Kitguru says: There is no doubt Apple have new ventures planned, but they always keep upcoming plans close to their chest.