Apple: most valuable company on Earth?

Ironic update: Well, so much for that. Apple loses $10 billion in value in a few short minutes.

Wow, kudos to Apple. Consumers love their products and stock analysts apparently love the consumers' love.

In an article today in Fast Money, author John Melloy makes the case that Apple is (or at least will become) the most valuable company on the planet.

I've beaten on the company for everything from its practices running so-called suicide factories in China to making sub-standard products.

But the fact is, the company's products are not just liked, they're loved -- insanely, unreasonably -- by consumers. Anything about Apple is catnip to fans and consumers worldwide. Heck, I even write about Apple because I know the topic is among the most popular of anything I discuss here on ZDNet.

Today, Melloy claims that Apple's market valuation will zoom past that of Exxon Mobile over the next 12 months. Exxon Mobile's value is around $432 billion, while Apple is estimated to pass $467 this year. There are reasons for this. Not only does Apple hold a spot in the hearts and minds of consumers but, as Jason Perlow points out, the company excels on business basics as well.

Now, that's thinking different.

So what do you think? Does Apple deserve to be considered the most valuable company on Earth? TalkBack below.

Correction: corrected misinterpretation of analyst data. Original piece had Apple's value now exceeding Exxon Mobile, when -- in reality -- it's an analyst estimate. Thanks to brucewilliams4 for point that out.