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    Apple passes Exxon as most valuable company

    Associated Press – Wed, Jan 25, 2012

    NEW YORK (AP) — Apple has again surpassed Exxon as the most valuable U.S. company after an excellent quarter.

    Apple Inc.'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 Corp. shares are down 1 percent at $86.52. That gives it a market cap of $414 billion.

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

    Cupertino, Calif.-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.

     
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    16 comments

    • burned_once
      burned_once  •  28 days ago
      I have a feeling this won't last long. Tech companies rise and fall, but Exxon has actual assets and a guaranteed growing market.
    • Tazatator
      Tazatator  •  Irvine, California  •  26 days ago
      Valuable. My real sources claim the Chinese factory for Apple polluted the air so bad the neighbors got sick and then there was a coverup. Exxon was booted out of Venezuela for making a mess there and now is asking for money to leave. Chavez is telling them to take a hike and he cut a deal with China in '09 regarding oil resources. So....keep sending money and jobs to China, imbeciles.
    • CV
      CV  •  28 days ago
      I am waiting for the righteous indignation about Apple profits. What's good for Exxon is good for Apple.... right?
    • bones_boy
      bones_boy  •  28 days ago
      Whatever happened to Walmart? They were up there in market cap, once supplanting XOM at the top.
    • SuperG
      SuperG  •  Portland, Oregon  •  27 days ago
      Apple may be more valuable than Exxon, but they will never have the political clout that Exxon has. We fight wars for them!
    • Lala planet
      Lala planet  •  28 days ago
      Thank God ExxoMobil is no longer #1. Now the media has someone else to beat up and accuse of gouging, theft, slavery, polution, etc. Check out the recent article (before the State of the Union Address) on Apple's workforce in China.
    • K2
      K2  •  Dallas, Texas  •  28 days ago
      Where are all the fanboys? Usually any Apple story brings tons of them out of their tents.
    • Lonnie
      Lonnie  •  Irvine, California  •  28 days ago
      Quote foxcomm ceo.the animals built the hand held devices
    • Lonnie
      Lonnie  •  Irvine, California  •  28 days ago
      Keep up the work:Chinese 12 yr olds need 16hour days at 68 cents per hour
    • None of your Business
      None of your Business  •  28 days ago
      Yeah, but if Exxon decides to stop sales the world shuts down. If Apple stops selling stuff, hipsters will wither up and die. Hmmm...
    • Dave
      Dave  •  28 days ago
      And yet I feel more comfortable owning stock in an oil company as opposed to a toy company.
    • Rayvyn
      Rayvyn  •  Santa Rosa, California  •  28 days ago
      Now we see how profitable Chinese slave labor is! Way to go Apple. I just hope they have enough suicide nets around the Foxconn building.
    • MEL
      MEL  •  28 days ago
      If only lots of other company's could do this. Transfer your manufacturing and use slave labour, wonderful ! Millions of people who are normal brained humans would say having fuel for their cars, to go to work and earn money to keep their families was more important than a bloody telephone and micro computer toy.
    • 0webama
      0webama  •  28 days ago
      Gee, I wonder if the Obama Occutards will now turn their anger towards "Big Apple"? Something tells me the hypocrisy of the Tards is about to be on full display.
    • Terry
      Terry  •  28 days ago
      With Slave labor....not bad!
    • Tyler
      Tyler  •  28 days ago
      Apple's #1!!!
     Post a comment
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