Friday, December 28, 2007

FT.com / Home UK / UK - Festive rally in Apple share price sees it overtake Cisco

Timely reality check -- see the full article for details

A Christmas rally in Apple's share price made it the world's third most valuable new technology company, behind Microsoft and Google, sealing one of the most dramatic corporate turnrounds ever achieved.

The stock price surge has taken the maker of iPods and Macs past industry stalwarts such as IBM and Intel and was capped this week as Apple topped even Cisco, the networking equipment maker. With a market capitalisation of $174bn, up more than $100bn from a year ago, Apple is one of Wall Street's stand-out successes.

Yet while Apple's core business of digital music players and desktop computers remains robust, analysts warned that it faces a significant product transition to mobile handsets and a new generation of home digital media devices.

FT.com / Home UK / UK - Festive rally in Apple share price sees it overtake Cisco

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