08112011_B04_Business_trib by xumiaomaio


 PAGE 4B, THURSDAY, AUGUST 11, 2011                                                                                                                                                             THE TRIBUNE

NEW YORK                            Exxon Mobil Corp. on                1 after the stock market closed.        A WINDOW WASHER works
Associated Press                    Wednesday.                             Apple's stock fell 2.8 percent     atop the cube-like structure of
                                      Apple briefly flirted with the    to close at $363.69, which brings        glass that houses the Apple
  INVESTORS SEEM to                 top spot on Tuesday afternoon       the iPhone and iPad maker's           Store showroom in the Upper
think you want an iPad more         before settling back slightly       market capitalization to $337         West Side of Manhattan. (AP)
than oil, as Apple Inc. became      below the oil giant.                billion. Exxon's stock fell 4.4
the most valuable company in          Wednesday was the first time      percent to close at $68.03. That
the United States, surpassing       that Apple managed to stay No.      gives the oil company a mar-
                                                                        ket cap of $331 billion.             enjoyed a triumphant come-
                                                                           The change of the guard took      back since the 1990s, when it
                                                                        place two days after global mar-     struggled to stay afloat before
                                                                        kets saw its worst fall since 2008   Steve Jobs returned to take the
                  /(*$/127,&(                                          as investors worried about the       helm.
                                                                        U.S. credit downgrade and the           But it's not just the come-
                                                                        possibility of another recession.    back. Gleacher & Co. analyst
                 127,&(2)/,48,'$7,21                                  Exxon had been the most valu-        Brian Marshall says Apple is
                                                                        able company since 2005, and         giving investors something that
  %\ D 5HVROXWLRQSDVVHGE\WKH6KDUHKROGHUVRIWKH&RPSDQ\            Apple only took No. 2 in May         has never been seen before.
                                                                        2010 when it surpassed               Apple's numbers are huge, with     startup."                             only by innovation. Investors
  RQ $XJXVW   DQG LQ DFFRUGDQFH ZLWK VHFWLRQ  RI    Microsoft Corp.                      nearly $30 billion in revenue in      "Even in 2008 and 2009             expect it to grow as long as it
  WKH &RPSDQLHV $FW LW LV KHUHE\ UHVROYHG WKDW &KDUWHUKRXVH      The power shift, while large-     the latest quarter, for example.   Apple grew like a weed and the        keeps making products that
  (PSHURU 0DQDJHPHQW /LPLWHG LV SODFHG LQWR OLTXLGDWLRQ         ly symbolic, is a substantial        Yet Marshall said the 35-year-     world was coming to an end,"          people want. So investors are
                                                                        milestone for Apple, which has       old company is "growing like a     Marshall said.                        betting on Apple's stock even
  SDUWLFXODUVQRWHGEHORZ                                                                                                                         Apple grew its net income          though it currently makes less
                                                                                                                                                70 percent to $14 billion and its     money than Exxon.
  1DPHRI&RPSDQ\                     &KDUWHUKRXVH                                                                                             revenue 52 percent to $65 bil-           In its latest quarterly report,
                                       (PSHURU0DQDJHPHQW                                                                                       lion in the fiscal year that end-     Apple said stronger iPhone and
                                                                                                                                                ed last September. A year ear-        iPad sales helped more than
                                       /LPLWHG,Q/LTXLGDWLRQ                                                                                 lier, even as other companies         double its net income to $7.3
                                                                                                                52'1(// $/&,7$ RI              — though not Exxon — were             billion and grow revenue by 82
  $GGUHVV                              32%R[1                   32%R[66                                                       reeling from the economic             percent to $29 billion.
                                        1DVVDX%DKDPDV                                                                                         meltdown, Apple's earnings               Exxon, meanwhile, posted a
                                                                                                                                                grew 35 percent and its revenue       41 percent increase in its sec-
                                                                                                                                                14 percent.                           ond-quarter earnings to nearly
  /LTXLGDWRU·V1DPH                    &UDLJ$7RQ\*RPH]                                                                                      Apple wasn't always a tech         $11 billion, the largest since it
                                                                                                                                                darling. The company once             set a record of nearly $15 billion
                                                                                                                                                known as Apple Computer Inc.          in the third quarter of 2008. Its
  /LTXLGDWRU·V$GGUHVV                 7KH'HDQHU\1R                                                                                      was on a steep decline before         revenue grew 36 percent to
                                        &XPEHUODQG6WUHHW                                                                                       Jobs returned in 1997.                $125 billion.
                                        32%R[1                                                                                           With Jobs as CEO, Apple               International companies that
                                        1DVVDX7KH%DKDPDV                                                                                     dreamed up gadgets that people        vie for the most valuable spot
                                                                                                                                                didn't even think they needed         include PetroChina Co., the
                                                                                                                                                until they got their hands on         publicly traded unit of China's
  'DWHRI$SSRLQWPHQW                  $XJXVW                                                                                          them — or saw friends and rel-        biggest oil and gas company,
                                                                                      /(*$/127,&(                                              atives with them. There were
                                                                                                                                                music players, smartphones and
                                                                                                                                                                                      and Petrobras, Brazil's state-
                                                                                                                                                                                      controlled energy company.
                                                                                                                                                tablet computers before Apple            In the U.S., Exxon and Gen-
                                                                                                                                                introduced the iPod, the iPhone       eral Electric had been trading
             'DWHGWKLVWK GD\RI$XJXVW$'
                                                                              &+$57(5+286((03(525                                             and the iPad. But the Apple
                                                                                                                                                gadgets' sleek, minimalist
                                                                                                                                                                                      off the No. 1 and No. 2 spots
                                                                                                                                                                                      until Microsoft surpassed them
                       &UDLJ$7RQ\*RPH]                                    0$1$*(0(17/,0,7('                                              design and intuitive software
                                                                                                                                                gave them a loyal following not
                                                                                                                                                                                      both in early 1999, at the height
                                                                                                                                                                                      of the dot-com boom. By 2000,
                             /LTXLGDWRU                                                                                                         just by tech geeks but the            though, GE was No. 1 once
                                                                                                  ,Q/LTXLGDWLRQ                              everyday consumers.                   again. According to data from
                                                                                                                                                   "Never underestimate the           FactSet, the three were close
                                                                                                                                                power of Joe Sixpack relative to      over the next five years, though
                                                                           1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHGQDPHG&RPSDQ\                expenditures on consumer elec-        Apple was ascending quickly.
                                                                           LV LQ GLVVROXWLRQ FRPPHQFLQJ WKH VW GD\ RI $XJXVW         tronics," Marshall said.              Exxon, which is based in Irv-
                                                                                                                                                   People want their gadgets,         ing, Texas, took the top spot in
                                                                            &UHGLWRUV DUH UHTXLUHG RQ RU EHIRUH WKH WK          especially those made by              2005 and remained there until
                                                                           GD\RI6HSWHPEHU$'WRVHQGWKHLUQDPHVDQG               Apple, even in a recession and        Wednesday.
                                                                                                                                                even as they watch their stock           Apple, which is based in
                                                                           DGGUHVVHVDQGWKHSDUWLFXODUVRIWKHLUGHEWVRUFODLPV             portfolios and retirement funds       Cupertino, Calif., generally
                                                                           WR WKHDWWHQWLRQRI&UDLJ$7RQ\*RPH]/LTXLGDWRURI           shrink.                               introduces a new product every
                                                                           WKHVDLG&RPSDQ\DWWKHRIILFHVRI %DNHU7LOO\*RPH]                 Even so, Apple commands            three years, which means some-
                                                                                                                                                just a sliver of the overall smart-   thing new in 2013. Marshall
                                                                           7KH'HDQHU\&XPEHUODQG6WUHHW32%R[1                 phone and computer market.            does not expect the company
                                                                           1DVVDX%DKDPDVDQGLIVRUHTXLUHGE\QRWLFHLQZULWLQJ            For that reason, Apple can            to slow down any time soon.
                                                                                                                                                grow at such a fast pace. "They          In fact, he expects Apple to
                                                                           IURPWKH/LTXLGDWRUWRFRPHLQDQGSURYHVXFKGHEWVRU             have just a tremendous runway         pass yet another milestone next
                                                                           FODLPVDWVXFKWLPHDQGSODFHDVVKDOOEHVSHFLILHGLQ              in front of them," Marshall said.     year, when it's likely to surpass
                                                                           VXFKQRWLFHRULQGHIDXOWWKHUHRIWKH\ZLOOEHH[FOXGHG               Exxon, which set a record in       Hewlett-Packard Co. as the
                                                                                                                                                2008 for the highest quarterly        world's largest technology com-
                                                                           IURP WKH EHQHILW RI DQ\ GLVWULEXWLRQ PDGH EHIRUH VXFK       earnings by any company, has          pany by revenue. In the most
                                                                           GHEWV DUH SURYHG RU SUHFOXGHG IURP REMHFWLQJ WR DQ\         limited prospects because its         recent quarter, HP reported $32
                                                                           VXFKGLVWULEXWLRQ                                                   growth is tethered to oil prices      billion in revenue, compared
                                                                                                                                                and new oil discovery.                with Apple's $29 billion in its
                                                                                                                                                   Apple's growth is limited          latest quarter.
                                                                                  '$7('WKHWK GD\RI$XJXVW$'

                                                                                              &UDLJ$7RQ\*RPH]

                                                                                       THE COLLEGE OF THE BAHAMAS
                                                                                         Visit our website at www.cob.edu.bs

                                                                             IMPORTANT DATES
                                                                                   Fall Semester 2011
                                                                                 New Student Orientation
                                                                                            Parent’s Evening
                                                                                      Monday, 15th August, 2011
                                                                                        6:30 p.m.-8:30 p.m.

                                                                                    Wednesday, 17th August, 2011
                                                                                       8:00 a.m.-12:30 p.m.

                                                                                  Advisement & Registration
                                                                                    Wednesday, 17th August, 2011
                                                                                        2:00 p.m.-7:00 p.m.

                                                                                  Advisement, Registration &
                                                                                        Bill Payment
                                                                                     Thursday, 18th August, 2011
                                                                                      Friday, 19th August, 2011
                                                                                         9:00 a.m.-6:00 p.m.

                                                                                      Performing Arts Centre,
                                                                                    The College Of The Bahamas
                                                                                       Thompson Boulevard

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