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.

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