Two years ago, Apple overtook Exxon as the world’s most valuable company. It was a heck of a feat for a Silicon Valley company: for the first time, the world seemed to value silicon computer chips more than the bubbling, black goo of long dead dinosaurs. The future seemed rosy, and in the following months, Apple’s share price eventually rose to over $700 a share… before cratering thanks to bizarre Wall Street pessimism.
Somehow, though, even though analysts are bleaker about Apple’s futures than they have ever been, Cupertino has once more managed to claw the title of world’s most valuable company from Exxon. How?