“As of last check, everybody’s favorite tech company had a market cap of $342.8 billion, compared with $339.7 billion for the oil behemoth,” Mark Gongloff blogs for The Wall Street Journal. “Both stocks are down today in the market mayhem, but Exxon’s is a little more down.”
“Yesterday’s market-cap cross was just a blip — this one is lasting a little longer,” Gongloff writes. “We should probably get used to it.”
Gongloff writes, “Robert Cyran of Breakingviews writes that Apple’s P/E multiple is similar to that of the broader stock market’s and half of what it was in 2006, when the company’s growth rate was slower. If Apple had the same P/E ratio it had in 2006, it would be worth $900 billion today, he points out.”
Read more in the full article here.
MacDailyNews Take: Cupertino, prepare for lift off!
[Thanks to MacDailyNews Reader “Ellis D.” for the heads up.]
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This on a down day for Apple? Talk about pouring salt into Exxon’s wounds.
So, it is the most valuable publicly traded company in the U.S. or the world?
World. Isn’t it the same thing anyway?
No.
There was a time not so long ago where Apple was the 2nd largest company market cap in the US, but 3rd in the word, after PetroChina. Since then, Apple has passed them.
“World. Isn’t it the same thing anyway?”
I couldn’t see your face or hear your voice when you typed that so I might be speaking out of turn. You might’ve had a smile on your face or your tongue in your cheek but I’ll say this anyway, without any intention of offending you personally.
This attitude is sadly very widespread in the US. Without necessarily meaning to put anyone down, Americans often think the world ends at its own borders. Wonder why many people abroad have a bad feeling about America? This is THE reason. Cultural terrorism.
Measurements, computer terminology and a host of other things where America is at odds with the rest of the world, continue nevertheless to be thrust on the rest of us as if it’s not “right” to be non-American. Yet America is only 4% of the world.
In the world, but, there are probably private companies, quasi-state owned that are likely worth more. Plus, there’s a mining company Billiton that will probably be worth more in a year or two, if commodities continue their upward climb, unless the market starts valuing Apple the way it should, based upon its incredible growth rate.
In this world there are only three things that are for sure: death and taxes, and fossil fuels. 😉
Fossil fuels already fall under the ‘death’ category.
Stop kidding yourself. Fossil fuels will remain *the* major energy source for years to come. It’ll be many years – at least a generation – before renewables can take their place. All the subsidies in the world won’t change that.
I think he was referring to the fact that fossil fuels are caused by death, naturally… not that fossil fuels CAUSE death itself.
Every time you breath you create green house gas pollution.
Never mind that the carbon dioxide is plant food.
Before we abandon fossil fuels we must eliminate carbon dioxide spewing mammals and marsupials.
File that under the death category.
Good news, but careful everyone. There are much broader forces at work. I think we are in for a rough ride very soon.
Probably but let’s enjoy this for the moment.
Go Apple go. I guess there is justice in the tech world after all.
How ya like me NOW?
up by 6 Billion right now
Damn! Apple is turning ExxonMobil into its own personal toilet. I never thought it would happen this year. Not by a longshot. Not long ago XOM had a market cap of about $415 billion and it seemed to be going up by the day. Now XOM looks like a shrinking little weenie. It still doesn’t mean much though. To hell with ExxonMobil. I want to see Apple over $400 and it’s going in the wrong direction.
Would have been more enjoyable if AAPL crossed XOM on an up day… 🙂
This is not sports. There is no “victory.” Apple has a certain value. The value of some oil company doesn’t have anything to do with that. And doubly so that Apple “won” by decreasing in value less than Exxon did.
As soon as the price of oil recovers from this selloff Exxon will zip right past Apple. In fact, oil has bounced this morning and I wouldn’t be surprised if Exxon is already larger by the time the markets open. As for comments like Exxon being Apple’s “personal toilet,” get a grip. Exxon doesn’t care one whit what Apple’s worth. They will just keep making money. They also pay a dividend every quarter and have been for 100 years.
I have waited half a life time to see this day … Well done Steve! … Well done’Apple Inc.’!