Apple Briefly Surpasses Exxon As Most Valuable Company in the U.S.

Apple logoFifteen years ago, Apple Computer was struggling to stay out of the red. But since the return of Steve Jobs in 1997, Apple has become a tech superpower that continuously provides new and innovative products like the iPod, iPhone and iPad. Its gadgets and software are a hit with many consumers, and it shows as Apple reports successful figures quarter after fiscal quarter. Now, Apple's success went a step further as it jumped ahead of ExxonMobil as the most valuable company in the United States today.

According to Barron's, Apple's stock reached $369.89 with a market cap of $342.8 billion, which is based on 927 million shares. Exxon, on the other hand, fell to $68.78 with a market cap of $334.41 billion. This occurred just this afternoon around 1 p.m., making Apple the richest stock in the world for a moment in time.

More recent reports say Exxon is back at $341.82 billion in market cap while Apple is at $338.59 billion. But with Apple down 10 percent after a 52-week high of $404.50, its possible that it may beat the world's biggest oil company once again.

A benefit that Apple has over Exxon is its ability to continue releasing products that consumers love, where the oil company has very limited growth prospects that are driven by the discovery of new oil and fluctuating oil prices.

"This all goes back to Apple's distillation when it changed its name from Apple Computer, to Apple, and their role as a technology influencer in everything we touch," said Charles Golvin, an analyst specializing in mobile technology for Forrester Research. "Over the years, Apple has become a massive force on our digital lifestyles, and the way that we connect with each other."

Source: DailyTech

Tags: Apple

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
Galaxy Note10 really is built around a 6.7-inch display
 
You may still be able to download your content
 
Facebook, Messenger and Instagram are all going away
 
Minimize apps to a floating, always-on-top bubble
 
Japan Display has been providing LCDs for the iPhone XR, the only LCD model in Apple’s 2018 line-up
 
The 2001 operating system has reached its lowest share level
 
The entire TSMC 5nm design infrastructure is available now from TSMC
 
The smartphone uses a Snapdragon 660 processor running Android 9 Pie
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 / 2
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
   1234
567891011
12131415161718
19202122232425
2627282930  




Poll

Do you use microSD card with your phone?
or leave your own version in comments (15)