Apple to become world's most valuable company in 2011

Apple is set to become the world's most valuable company this year, Jamaica observer reported, referring to financial analysis.

It is predicted to leapfrog the current No.1, oil giant Exxon Mobil, capping a remarkable rise for the gadget firm, which is thriving on sales of Mac computers, iPhones, iPods and now iPads.

Shares in Apple are predicted to rise a staggering 32 per cent over the next 12 months, driving the company's market value up to £269.5billion.

Apple reported its best ever quarterly results last month, continuing its relentless rise up the list of the world's biggest companies.

In the last three months of 2010 alone, it is reported to have sold 3.89million Macintosh computers, 14.1million iPhones, 9.05million iPod music players and 4.19million iPad tablet computers. The iPad's sales now accounts for 17 per cent of its total revenue.

Analysts are as giddy as you can be, but Apple just keeps surpassing those numbers,' said Pete Najarian, co-founder of stock market website TradeMonster.com.

Although it has long cultivated a unique reputation with a loyal customer base devoted to the 'cool', quirky brand and aesthetically pleasing design, it is only in recent years that Apple has transformed into a sales juggernaut.

Some experts expect the company to sell as many as 35million iPads this year, more than doubling last year's 14.8million sales.