Exxon Mobil Passes Apple as No. 1 Company

It regains title of most valuable company
By John Johnson,  Newser Staff
Posted Jan 25, 2013 12:02 PM CST
Exxon Mobil Passes Apple as No. 1 Company
An Exxon logo at a gas station in Dallas.   (AP Photo/LM Otero, File)

Apple's disappointing earnings report has cost it some bragging rights: Thanks to declining stock shares, the company had a market value of $412.7 billion as of midday. That means Exxon Mobil regains the title of "world's most valuable company" at $417.5 billion, the AP reports. Apple took over the No. 1 spot in August 2011 and at one point—in September of last year—had a value north of $650 billion, reports Mashable. That's the highest in history.

"Since then, however, Apple's stock has been plagued by iPhone 5 sales concerns, a shakeup in the company's executive leadership, and increasing competition in the smartphone and tablet markets, most notably from Samsung," writes Mashable's Seth Fiegerman. Adds an analyst: "It's a reality check on inflated expectations." (Read more Exxon Mobil stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.