Apple passes Exxon to become world's most valuable company

By on Aug 10, 2011 at 6:20 PM
Business August 10, 2011

As of market close on Wednesday, Apple’s market capitalization totals $337.17 billion — $6 billion higher than Exxon Mobile at $330.77 billion — making Apple the most valuable company in the world. Apple’s market cap topped Exxon’s briefly during trading on Tuesday, but Exxon rallied ahead of close to regain the No. 1 spot. Shares of Apple stock fell 2.8% to $363.69 on Wednesday, while Exxon’s stock dropped 4.4% to $68.03 as trading closed. Mobile devices like the iPhone and iPad have helped breathe new life into Apple, which found itself on the verge of bankruptcy 15 years ago. While Apple and Exxon may bounce around as No. 1 and No. 2 in the days and weeks to come, Apple’s climb from dire straights to the world’s most valuable company will likely be studied in business schools around the world for decades. Apple is expected to launch new iPhone and iPad models this fall.

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  • Sefiroh

    i do hate this company but this is a quite an accomplishment. congrats, apple.

  • http://pulse.yahoo.com/_S7ZYZUI56J7G64LSVKWSKY7VEI Keith Wood

    I just paid $22.85 for an iPad 2-64GB and my girlfriend loves her Panasonic Lumix GF 1 Camera that we got for $38.76 there arriving tomorrow by UPS. I will never pay such expensive retail prices in stores again. Especially when I also sold a 40 inch LED TV to my boss for $674 which only cost me $62.81 to buy. Here is the website we use to get it all from, CentHub.com

  • aceg

    Are they giving billions to help the u.s/world with debt? If they gave a combined 100 billion over a 1 year period, and take a small but noticeable tax cut, do u think it’ll really affect them? No. So until these bigtime rich companies dig deep and help the people who have been buying their products for many years, I can say they are worthless. Forget the billions….

    • http://twitter.com/sicmx SicMX

      Why would they have to clear up the mess the government has created? 

  • http://profiles.google.com/jshurak Jeff Shurak

    Two things:1: How massively appropriate is this? h t t p : / / w w w. y o u t u b e . c o m / w a t c h ? v = H h s W z J o 2 s N 4

    2: This rests exclusively on the shoulders of an old man.  A sickly old man.  What happens when he dies?  Stock will sink like a rock.

  • http://profiles.google.com/jshurak Jeff Shurak

    The funny thing is that apple fanboys gobble this shit down.  Apple wants your money and that’s about it.  They want to make as much money as possible by selling it to as many people as possible.  That’s why they dumb down the operating system so that toddles can use it.  That’s why they don’t give you the functionality in the OS or even give you the ability to change the battery yourself.  What does that say about what they think of their customer base?  nerd voice “um no, actually, we don’t think your capable of changing a battery”

    Yet you defend them with all your stupid comments and ridiculous attitudes.  Keep shelling out those dollars fanboys, because the bigger the fire, the more wood you need to keep it burning.  Its hilarious really. 

    • http://www.facebook.com/profile.php?id=504970952 Matt Holland

      No, you wanna know what’s hilarious? That PC/Android geeks like yourself take pride in the complexities of their devices and OSs. Just because something is easy to use doesn’t mean it been dumbed down. 

      • http://profiles.google.com/jshurak Jeff Shurak

        Geeks come in all shapes and sizes.  I actually have a 2011 MBP.  Because I’m a geek, I know what the component costs are and see that its a little over priced.  But all in all its a great product.

        The argument goes both ways really.  You assume complexities when I say functionality.  When in reality, Android is no more complex to use than iOS.  Its just not as straight forward. (we have to press a button to get to the app drawer, while its sitting there, 100% of the time in iOS)

        In terms of functionality and flexibility Android trumps iOS.  Hands down.  In terms of simplistic ease of use, iOS takes it.  Why can’t you change the batter in your iPhone?  Its a very simple process on almost every other phone out there and it doesn’t take more than 15 seconds.  Its not dumbed down because its easy to use.  Its dumbed down because you don’t need to be smarted than a toddler, or a 2 year old dog for that matter.  I believe their intelligence levels are about the same.

  • Lawrence of Arabia

    What’s the next milestone for Steve Jobs after this?
    AAPL sells more than Android, AAPL has more Cash than USA  and now is World’s most valuable company.
    Congratulations to AAPL!.

  • Maverick0420

    Once Jobs leaves the company for good it will all come crashing down…

  • http://pulse.yahoo.com/_CZLGT33THY7YZA3NHUCJJA7LGU haloguy628

    There is only one problem with it. Jobs pancreas. As soon as it gives out it will be over for aapl. When that happens in very near future there will be private funeral with over saturation of odes on the genius he was for about a week. Once the hoopla dies down aapl will have maybe one or two product cycles and then go the way of dodo because they would not have the best bullshitter in the world anymore.

    So enjoy your aapl nirvana while it lasts. BTW Exxon is producing products that are vital for society. aapl is producing overpriced gadgets. Put that in perspective.

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