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Apple Briefly the Most Valuable Company in the World [Updated]

Tuesday August 9, 2011 10:20 am PDT by Jordan Golson
Apple, Inc. was, several times today, the most valuable public company in the world as measured by market capitalization. Apple's market cap briefly passed ExxonMobil today, just after 1PM, reaching $341.55 billion in valuation. ExxonMobil was valued at $341.42 billion. Both stocks fluctuated throughout the day, but ExxonMobil closed the day at a higher valuation.


Apple didn't pass ExxonMobil by rocketing up in price, however. It merely hasn't fallen as far during the current market downturn. Both AAPL and XOM are significantly off their highs as the overall markets have dropped over the past couple weeks.


Five-year comparison of Apple and Exxon Mobil market capitalizations (Source: YCharts)

Today, Apple is having a strong day, up more than 4%, while Exxon is near flat.

At the time, Apple's stock was trading at $368.40, off 8% from its all-time high of $404 - but ExxonMobil had fallen farther, down 20% to $70.21 from just over $88.

Update: While Apple dropped back a bit after its initial move past ExxonMobil and quickly relinquished the lead, ExxonMobil has pulled back more than Apple has over the past few hours, and Apple now holds a market cap lead of $4-5 billion.

Update x2: At 4PM Eastern, the end of the trading day, ExxonMobil closed at $71.64 with a market cap of $348.32 billion. Apple closed at $374.01, valued at $346.74 billion, some $1.6 billion behind XOM.

[ 189 comments ]


Top Rated Comments

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macduke
104 months ago
Do we win now? Lol...

So, what next Stevie? World domination?
Rating: 17 Votes
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winston1236
104 months ago
:apple:>oil
Rating: 14 Votes
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macduke
104 months ago
Should have taken Michael Dell's advice in 1997:

"What would I do? I'd shut it down and give the money back to the shareholders," Michael Dell said before a crowd of several thousand IT executives.


Read more: http://news.cnet.com/2100-1001-203937.html#ixzz1UYO0YunA
Rating: 11 Votes
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troop231
104 months ago
Congrats Apple! Who would've thought this in the Sculley era?! :p
Rating: 10 Votes
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FrozenTomato
104 months ago
take that oil companies! :D
Rating: 8 Votes
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Tones2
104 months ago
And thus the importance of marketing in a capatalistic society.

Tony
Rating: 8 Votes
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samcraig
104 months ago

I think the reason you preferred it then is because most people didn't own Apple products then, and when owning one then, you felt more special than you do today. This is similar to the RayBan Wayfarer glasses. I remember owning these ten years ago feeling unique, but now they're so mainstream, I've gone off them :rolleyes:


I don't know. Maybe that's how you feel. That you buy products to feel special. Maybe the OP was commenting on how he preferred when Apple was grass roots and was the underdog to cheer for and needed their customers vs the size and magnitude they are today.

Maybe it has nothing to do with wanting to feel elitist...
Rating: 7 Votes
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delonh92
104 months ago
if you would have asked me 10 yrs ago, were would you see apple in ten yrs. I would have said gone. Congrats you guys deserve it.:)
Rating: 7 Votes
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gpat
104 months ago

I think not... How did you get you :apple: stuff?
- Parts of it are made from oil
- Building process needs oil
- Shipping it to you or the store needs oil
- You picking it up at the apple store needs oil
- Your car
- Your mom's car
- The city bus
- The grease on your bike
- etc

It's great for Apple (really), but market valuablabla is really just made up numbers in the end based on the way the market works (I have little clue on the actual details).

So in the end, without oil, there would be no Apple. As there wouldn't be much anything without natural resources.

But still, great for Apple!


It also goes the other way around. Without technological appliances and means of transport, there would be little need for oil.
Rating: 6 Votes
Avatar
acslater017
104 months ago

I think not... How did you get you :apple: stuff?
- Parts of it are made from oil
- Building process needs oil
- Shipping it to you or the store needs oil
- You picking it up at the apple store needs oil
- Your car
- Your mom's car
- The city bus
- The grease on your bike
- etc

It's great for Apple (really), but market valuablabla is really just made up numbers in the end based on the way the market works (I have little clue on the actual details).

So in the end, without oil, there would be no Apple. As there wouldn't be much anything without natural resources.

But still, great for Apple!


You're probably missing the point of the original comment.
Rating: 6 Votes

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