How time flies when you're stupid rich.
It seems like just yesterday that we were talking about Apple
The explosive quarter helped propel shares to new heights, and then proceeded to reclaim the market cap crown from oil giant ExxonMobil
Apple's market cap now stands over $50 billion higher than Exxon's thanks to the recent rally. In fact, if you compare Apple to archrivals Google
Looking at recent net incomes tells a similar story, with Apple now also taking a lead from the oil baron in quarterly profit.
The Mac maker's staggering $13.06 billion bottom line has squeezed out a lead over Exxon in this race too. Once again, Big G and Mr. Softy joining forces would result in just $9.33 billion in profit, coming up short compared to the Colossus from Cupertino.
There's been a lot of talk of Apple reaching the mythical realm of a trillion-dollar market cap, which would require the company to more than double from current prices. Remember that Wall Street analysts, who are notorious for underestimating Cupertino, have price targets as high as $700 for Apple shares. With 932 million shares outstanding, that would be a $652 billion capitalization.
All of a sudden, a trillion-dollar cap doesn't sound so mythical after all.
Speaking of 13-digit figures, the mobile revolution is set to become "The Next Trillion-Dollar Revolution," thanks in part to Apple. There are lots of companies that are set to cash in on it, but one in particular has excellent prospects. The company is one of few players that will help power the mobile devices of the future, and it also has exposure to the explosive growth in China. Click here for access to this 100% free report.
Fool contributor Evan Niu owns shares of Apple, but he holds no other position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool owns shares of Microsoft, Apple, and Google. Motley Fool newsletter services have recommended buying shares of Apple, Microsoft, and Google; creating a bull call spread position in Apple; and creating a bull call spread position in Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.