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

A CES Made of Glass: Corning's Impact - Problem Is Placement

By: Rob Enderle    2/8/2016

At CES last week, Corning led with a glass-forward vision that was picked up by companies like Panasonic and Samsung showcasing a number of active dis…

Read More

IBM Connect: Blending Apple, Social Media, and Watson to Obsolesce Email

By: Rob Enderle    2/5/2016

I'm at IBM Connect this week, and as with all IBM events since the IBM/Apple partnership, this is as much a showcase for IBM software as it is a showc…

Read More

What's the True Spirit of Super Bowl Sunday? Advertising

By: Kyle Piscioniere    2/5/2016

With the big game coming up on Sunday, let's not forget what the Super Bowl is really about: commercials. Sure, some brutes in jerseys are going to co…

Read More

Verizon & XO: Spectrum, 5G Cause for Rumored Deal?

By: Maurice Nagle    2/4/2016

For two firms that have had somewhat of a contentious relationship, seeing Verizon in late-stage talks to purchase XO Communications is certainly an i…

Read More

Strife at Yahoo: Board Plays Coy, But Mayer Forges On

By: Kyle Piscioniere    2/3/2016

Yahoo has never really recovered its initial dot-com glory. Now, the company is faltering and ready to be stripped for parts. Yet somehow, against all…

Read More