Shares of Apple Inc. on Monday hit a 52-week high, signaling a bright future in 2011 for the popular technology titan.
Apple shares, which trade on the NASDAQ under the symbol AAPL, hit an all-time high of $330.26 during the first regular trading session of 2011.
Apple now has a market value of roughly $303.4 billion. That makes it the second-largest company in the world based on market capitalization, behind Exxon Mobile Corp., according to the IBTimes.
Exxon Mobile, which trades on the New York Stock Exchange, has a market capitalization of $376.7 billion. The oil giants shares were trading today at a 52-week high of $74.87.
The NASDAQ states that the market value of a listed security is calculated using the current market price per share of the security multiplied by the number of shares outstanding.”
Apple has been riding high in recent times.
In October, the posted record revenues of $20.34 billion and a net profit of $4.31 billion for the fourth-quarter of the 2010 fiscal year. For the entire 2010 fiscal year, Apple brought home a profit of roughly $14 billion.
In October, Apple stated that it expects revenues of roughly $23 billion and diluted earnings per share of $4.80 for the first fiscal quarter of 2011. Apple plans to hold a conference call on January 18 to discuss its quarterly financial results.
Anticipated product announcements for 2011 like an iPhone for Verizon Wireless also bode well for the future of Apple’s stock price.