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

Rising Mobile Broadband Accessibility and Usage Impacting Global Social and Economic Growth

By: Laura Stotler    5/28/2015

Information and communication technologies (ICTs) are having a direct impact on social and economic development, according to interesting new research…

Read More

Avago Technologies Acquisition of Broadcom: Let The Chips Fall Where They May

By: Peter Bernstein    5/28/2015

With a combined valuation of roughly $77 Billion and revenues of $15 Billion once the transaction closes the new Avago will have the human and technic…

Read More

Digital Ad Viewability: The New Metric for Monetization

By: Tara Seals    5/28/2015

Verizon Communications raised a few eyebrows earlier this month when it announced plans to acquire AOL for $4.4 billion. It seemed a lot to pay just t…

Read More

Future Watch Apps May Surprise You

By: Mike Russo    5/27/2015

If there's one thing that's abundantly clear about the Apple Watch, it's that this isn't your grandpa's timepiece. Oh, it tells time, sure. The rest i…

Read More

Why Apple iOS is Dominating Google's Android

By: Rob Enderle    5/27/2015

Apple's iOS platform is kicking Google Android's butt all over the Smartphone playground. This battle has been fascinating to watch because it seemed …

Read More