Apple had surpassed ExxonMobil last month to become the most valuable company in the world. Its market value is now 16 percent more than that of Exxon. Apple’s shares have shot up 40 percent since last February and have registered a gain of about 500 percent in the last five years. 

 

Investors are throwing caution to the winds with respect to conventional wisdom about stocks and are contributing to the spectacular rise and dominance of Apple’s stock. 38 out of 40 Wall Street analysts, who follow the stock, have rated it a "Buy" or "Strong Buy." Investors, analysts and money managers have reaped the benefits of betting on this stock to an extent not witnessed in recent memory. Apple has not been following the earlier trend, due to which big companies eventually find it difficult to maintain their growth rates, as it has continued to grow unhindered. Its revenue increased 68 percent last year and profit soared 98 percent, the fastest in the past five years.