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Apple surpasses Exxon Mobil as most valuable company in the world

Apple surpasses Exxon Mobil as most valuable company in the world

Matthew Panzarino writing for The Next Web,

Apple has, at least for the moment, taken the place of Exxon Mobil as the most valuable company in the world, measured by market cap, reports MacRumors. Apple’s market cap hit $341.55 billion in valuation today, while Exxon Mobil was valued at $341.42 billion.

[...]

Apple’s record high of $404 per share was hit just last week, although it has fallen 8% to 368.40. ExxonMobil took a deeper hit, falling 20% to $70.21 allowing Apple to creep ahead.

Apple is having a great day, up 4% while Exxon's growth remains stagnant. While both companies have taken hits thanks to the stock markets being down after the S&P downgrade, this is the first time Apple has been ranked as the most valuable public company in the world, even if for just a moment.

Update: Great quote from John Paczkowski at All Things D:

Incidentally, at $341.5 billion, Apple’s market cap is more than twelve times that of Dell’s $26.54 billion, which is highly ironic considering Michael Dell’s infamous suggestion for the company: “What would I do [with Apple]? I’d shut it down and give the money back to the shareholders.”

Update 2:  Mark Gongloff from the WSJ:

Exxon Mobil ended the day with the crown, at $348 billion in market cap. Apple ended at $346.7 billion.

(image via MacRumors)