“Tuesday is proving to be another brutal day for Apple on Wall Street,” John Paczkowski reports for AllThingsD.
“The company’s shares, which briefly slipped below $500 on Monday, continued their downward slide Tuesday, drifting below that mark once again,” Paczkowski reports. “They touched $483.80 in early morning trading, their lowest point in about nine months.”
Paczkowski reports, “That’s a long way from the all-time high of $702.10 they hit last September. If Apple’s stock continues along this downward trajectory, the company may soon cede its title of world’s largest company by market cap to Exxon Mobil, which it surpassed about a year ago.”
Read more in the full article here.
MacDailyNews Note: Current market values:
Apple Inc. (AAPL) – $457.10 billion
Exxon Mobil (XOM) – $408.20 billion
Apple shares hit new all-time intraday high; Apple passes Exxon as world’s most valuable company – January 25, 2012