2011: A Year of Firsts Remembered

- 2011-12-27T21:23:41Z

Photograph by Victor Blue/Bloomberg via Getty Images

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Apple Is No.1, Briefly

In August, Apple's market value was $337.2 billion, surpassing Exxon Mobil Corp. for the first time and crowning the maker of iPhones -- at least temporarily -- as the world's most valuable company. Another tech company to claim that title was Cisco Systems, which is now valued at about $99 billion. Apple's rise to the top spot follows a 14-year transformation from a personal-computer also-ran into a seller of everything from smartphones to digital music. Not bad for a company that at one point was 90 days away from bankruptcy, according to its late co-founder, Steve Jobs.