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Apple Is Most Valuable Company on Earth: Analysts
CNBC.com | February 08, 2011 | 12:25 PM EST

Analysts have had three weeks since Apple reported its best quarter ever to breakdown the results and the verdict is finally in: Apple should be the most valuable company on earth.

Since the Jan. 18 report where Apple said it sold a record 16 million iPhones last quarter and nearly doubled the sales of iPads, at least five firms have raised their 12-month forecast on the stock to an average price of $467, or a 32 percent increase from here. At that level, Apple’s market value would total $433.7 billion, flying past Exxon Mobil’s current market value of $423.2 billion.

After underestimating iPhone and iPad sales for the last year, analysts as a group have ratcheted their numbers up for Apple this year more than any other technology company, according to analysis by Bespoke Investment Group.

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