Apple loses ‘World’s Most Valuable Company’ crown to Exxon Mobil

“Apple Inc. surrendered the title of the world’s most valuable company to Exxon Mobil Corp. after concern over slowing growth drove the shares to the biggest loss in the Standard & Poor’s 500 Index,” Sarah Pringle and Lu Wang report for Bloomberg.

“Apple’s 12-month reign as the No. 1 stock ended after the shares slumped 18 percent this year, worse than any other companies in the benchmark gauge for U.S. equities,” Pringle and Wang report. “The decline reduced its market capitalization to $412 billion, below Exxon Mobil’s $417 billion.”

Pringle and Wang report, “About $245 billion has been erased from Apple’s value since the Cupertino, California-based company rose to an all-time high in September. Even as Chief Executive Officer Tim Cook guided Apple to record iPad and iPhone sales, investors worry about management’s ability to keep producing hit products more than a year after the death of co-founder Steve Jobs.”

Read more in the full article here.

MacDailyNews Take: The hits just keep on comin’!

22 Comments

  1. “Apple Inc. surrendered the title of the world’s most valuable company to Exxon Mobil Corp.”

    So answer one question for me: Are you buying Exxon today?

    One more. Is Exxon growth going to be even close to Apple’s equity growth in 2013?

    1. I don’t think Exxon’s growth is so much a factor it has more to with the fact that Exxon’s business is the most basic required commodity of the modern world.

      Exxon could have poor growth but as long as the world needs oil and they can find sources of it they are a sure fire money maker for someone.

  2. the most, the second most the third most……..

    fuck off. Who gives a rats ass. They make insanely great products that I will continue to buy, period.

    This crap gives me a rash.

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