In what probably won’t come as a surprise to the company’s investors (given recent events), Apple on Friday lost its position as “The World’s Most Valuable Company.” The company originally won the title after it surpassed the total worth of gas and oil conglomerate Exxon Mobil in February of last year.
At the time Apple eclipsed Exxon’s total worth, the oil giant was said to have a market cap of approximately $400 Billion. Apple, however, smashed through that with its $500 a share valuation, and sat pretty with a market cap of $470 Billion.
This weekend, though, the tables have turned. As of 16:00 ET on Friday, $XOM had a market capitalisation of 418.23 Billion and a share price of $91.73. In comparison, however, $AAPL had a market capitalisation (and thus a total worth) of 413.06 Billion, based on a share price of $439.88.
Meaning Exxon Mobil is (once again) “The World’s Most Valuable Company.”