Exxon Mobil Tops Apple as Most Valuable U.S. Company Based on Market Cap

By Ed Silverstein January 25, 2013

Apple got edged out as the most valuable U.S. company on Friday after recent stock market activity pushed Exxon Mobil into the top ranking.

Apple stock has faced some challenges, and it was on Wednesday that the company released a quarterly earnings report that analysts found to indicate the tech company may see a slower rate of growth. As of 4 p.m. Friday ET, Apple was selling on the Nasdaq market for $439.88. Earlier in the day, it dropped 2.6 percent to $438.76 in afternoon trading. It also saw a significant 12 percent decline during Thursday trading.

According to The Los Angeles Times, as of mid-day Friday, Exxon saw a $417.59 billion market cap, while Apple saw a $412.36 billion market cap.

Furthermore, Exxon Mobil was the most valuable company between 2005 and 2011 until it was replaced by Apple. The two companies continued to exchange the top honor until Apple captured the top spot in early 2012 – that is, until Friday.

For comparison, as of Aug. 22, 2012, Apple was worth 53 percent more than Exxon Mobil, TechZone360 reported. It is also noteworthy that PetroChina may have higher market capitalization than either Exxon Mobil or Apple.

Needless to say, there are some concerns about Apple among investors. For example, Apple’s iPhone 5 was facing strong competition from phones using Google's Android software.

There are concerns too about the company’s recent record of innovation.

“It has been nearly three years since a new product has come from a company still seen as the embodiment of innovation,” the Huffington Post reported. “That last product, the iPad, came in 2010… Some analysts question whether Apple can keep growing by just releasing new versions of its old products. The long-rumored Apple TV, is still just that, a rumor.”

Generally, though, many investors are likely to keep their Apple shares, and this week’s performance is a far cry from 1997 when Michael Dell said if he led Apple, he'd "shut it down and give the money back to the shareholders," TechZone360 reported. On Oct. 6, 1997 Apple stock closed at $5.49 a share.




Edited by Allison Boccamazzo

TechZone360 Contributor

SHARE THIS ARTICLE
Related Articles

Post 'Clintongate': 3 Ways to Mitigate Shadow IT

By: TMCnet Special Guest    4/1/2015

What can enterprises learn from 'Clintongate'? The first lesson is that unapproved use of technology within organizations is known as "shadow IT," and…

Read More

President Obama Details Better Protection Against Cyber Threats

By: Steve Anderson    4/1/2015

Cyber threats present some of the most dangerous scenarios that can be endured by any person, or by any nation. Why? Because the threats not only rend…

Read More

Chrome OS Gets Major Push from Google

By: Joe Rizzo    4/1/2015

Android, Google's mobile operating system and Apple's iOS have about the same market share in the U.S., however in emerging regions, Android is poised…

Read More

Final Four Tips for Password Security

By: Peter Bernstein    4/1/2015

If you are like most people in the U.S. the past few weeks, you have been caught up in what is known here as "March Madness." This is the annual ritua…

Read More

Surface 3: Third Time's A Charm

By: Rob Enderle    3/31/2015

You can also update hardware with the new operating system and even though Surface sells initially with Windows 8 it will get an update to Windows 10 …

Read More