Apple briefly surpasses Exxon as most valuable company

Apple briefly surpassed Exxon as the most valuable US company after an excellent quarter, though the oil company has regained the lead at the market's close.

Apple's stock rose as much as 8 per cent, while Exxon's fell as much as 2 per cent during trading Wednesday.

Exxon Mobil Corp's stock closed up 4 cents at $87.22 for a market capitalization of $418 billion. Apple's increased 6 per cent to $446.66 for a market cap of about $415 billion.

Apple said on Tuesday that net income in its latest quarter more than doubled, while revenue grew 73 per cent.

The California-based Apple first topped Exxon in August, then fell back to second place. Irving, Texas-based Exxon had held the top spot since 2005.

Apple overtook Microsoft Corp, now in the No. 3 slot, in 2010.

Some figures from Apple Inc's first-quarter earnings report, put into context:

Apple's net income for the last three months of 2011: $13.1 billion.

Net income for Intel, Microsoft, Google and Yahoo, combined: $13.0 billion.

Apple's net income per full-time employee: $215,000

Apple's sales in the last three months of 2011: $46.3 billion

Apple's full-year sales in 2009: $42.9 billion

Number of iPhones sold in the last three months of 2011: 37 million

Number of iPhones sold in their first two years on the market (2007-2009): 21 million

iPads sold in the last three months: 15.4 million

Computers sold in the last three months by the world's largest PC maker, Hewlett-Packard Co.: 15.1 million (estimate by IDC)

Apple's calendar year 2011 sales, per person on Earth: $18