March 12, 2010: Apple passes Walmart and investment firm Berkshire Hathaway in value to take third place in market capitalization among publicly listed U.S. companies.
Apple’s valuation roars past $200 billion as a result of intense excitement over the first-generation iPad. Things look good for the company as it guns for powerhouses ExxonMobil and Microsoft.
Apple’s climb to the top of the stock market
At the time, AAPL was trading at $226 per share. Today, it trades at closer to $180 (after a 7-to-1 stock split in 2014 after AAPL peaked at $645).
It didn’t take Apple long to catch up to Exxon Mobil and Microsoft, actually. In May 2010, Apple overtook Microsoft, surpassing the tech giant that dominated Cupertino during the previous decade. A little over a year after that, on August 9, 2011, Apple blew past oil giant ExxonMobil to become the world’s most valuable company.
In all, it was an astonishing turnaround for a company that came perilously close to going out of business during the 1990s.
Apple market cap heads for $1 trillion
According to a recent report, Apple is currently on schedule to hit the $1 trillion mark in late this summer, potentially a week behind Amazon.
Did you follow Apple during its climb to the top? Did you possess the foresight to invest before the Apple market cap shot sky-high? Let us know in the comments below.