Apple Briefly Passes Exxon as Most Valuable Company

By: Associated Press
By: Associated Press

New York, NY (AP) - Apple briefly surpassed Exxon as the most valuable U.S. company after an excellent quarter, though the oil company has regained the lead at the market's close.

Apple's stock rose as much as 8 percent, while Exxon's fell as much as 2 percent during trading Wednesday.

Exxon Mobil Corp.'s stock closed up 4 cents at $87.22 for a market capitalization of $418 billion. Apple's increased 6 percent to $446.66 for a market cap of about $415 billion.

Apple said Tuesday that net income in its latest quarter more than doubled, while revenue grew 73 percent.

Cupertino, Calif.-based Apple first topped Exxon in August, then fell back to second place. Irving, Texas-based Exxon had held the top spot since 2005.

Apple overtook Microsoft Corp., now in the No. 3 slot, in 2010.


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by democrat Location: america on Jan 26, 2012 at 09:17 AM
    How much more can we tax their success in order to pay for our failures?
WCTV 1801 Halstead Blvd. Tallahassee, FL 32309
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 138092623 - wctv.tv/a?a=138092623
Gray Television, Inc.