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
An Exxon logo at a gas station in Dallas.   (AP Photo/LM Otero, File)

(Newser) – 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."

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Showing 3 of 15 comments
wasntme
Jan 26, 2013 11:39 AM CST
I wonder what magical & caring things things Exxon Mobil does for their employees that make them #1?
Doublewhiskeycoke
Jan 25, 2013 3:15 PM CST
Why not Exxon reaps the rewards of Billions in corp welfare and only has to pay 13% in taxes
wwwonderer
Jan 25, 2013 12:41 PM CST
Unfortunately we calculate VALUE of a company with the cost of buying each share at the current share price. This is only temporary, as I'm sure the next iThing will come out, lines will form at the stores, and this will happen: http://www.valuewalk.com/2013/01/apple-inc-aapl-price-targets-cut-by-topeka-others/ White originally had a price target for the stock at $1,111 per share, but now he’s reduced it to a mere $888 per share. However White hasn’t given up on the stock yet; he has maintained his Buy rating on the stock. So you see, investors have PLENTY of time to get in at say $700, even $800 per and make a nice sum at $888 per, maybe even that $1,111 per share. Too.Funny. Who thinks these aren't the same guys who advised people to get in on Facebook at $40 or $45 per share? Seriously? I sure will feel STOOPID if it does happen though.