News

Exxon Mobil Tops Apple as World’s Most Valuable Company

Exxon Mobil Apple

With a drop in Apple‘s stock price, the consumer electronics giant has now lost its ranking as the world’s most valuable company, surpassed by oil giant Exxon Mobil.

Exxon’s market cap now lies at $416.36 billion, while Apple’s market cap currently rests at $414.09 billion.

Apple held the top spot since August 2011. During the summer of 2011, the tech company eventually surpassed Exxon. Both companies soon began trading places at the top of the stock market throughout the fall. Apple finally held onto the position for good, starting in early 2012. Apple’s peak market cap came in at $656 billion for September 2012, when the company released the iPhone 5.

Forrester analyst Charles Golvin spoke to Mashable about Wall Street’s lower expectation for Apple:

It’s a reality check on inflated expectations. I don’t think it’s a portent or a harbinger of diminished impact of Apple on the market. While they are still an 800 pound gorilla and bringing tremendous innovation and new experiences to consumers, others are starting to catch up to them a little bit and having some influence where they didn’t before.

Win one of three XBox One Console Packages from XBox

Join Heavy's daily email newsletter and Askmen's newsletter to enter to win one of Three(3) great XBox One Console Packages from XBox
Read the sweepstakes rules here.

Leave a comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 982 other followers