Apple's stock rose nearly 6 percent to $445.29 in midday trading Wednesday, bringing the iPhone and iPad maker's market capitalization to $415 billion.

Meanwhile, Exxon Mobil shares are down 1 percent at $86.52.

That gives it a market cap of $414 billion.

Apple said net income in its latest quarter more than doubled, while revenue grew 73 percent.

Cupertino, California-based Apple first topped Exxon as the most valuable company in August, then fell back to second place.

The Irving, Texas-based oil and gas giant had held the top spot since 2005.

Apple overtook Microsoft Corp., now in the No. 3 slot with a market cap of $247 billion, in 2010.