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Apple settles into stronger market cap lead over Exxon

updated 03:10 pm EDT, Wed August 10, 2011

Hit on Apple stocksproves irrelevant

Apple's market capitalization has settled into a stable position over that of Exxon Mobil, giving it an unambiguous ranking as the world's most valuable corporation. On Tuesday the situation was more uncertain, with Apple initially taking the top spot only to have Exxon regain the position. Apple was in the lead by the close of US trading though, and as of this writing on Wednesday the company's cap is sitting at $345.74 billion, noticeably ahead of Exxon's $341.47 billion.

While Exxon still reaps about four times as much revenue as Apple, the latter's market cap achievement has been given a symbolic importance. It first points to the attractiveness and growth of Apple stock, which as recently as 2008 was worth less than $80, but is now valued at about $370. In a longer view it marks a stark contrast with the Apple of the 1990s, when the company teetered on edge of bankruptcy, and the early 2000s, when it was regaining stature but still exploiting its "underdog" image.



By Electronista Staff
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  1. J2-Droid

    Fresh-Faced Recruit

    Joined: Mar 2011

    -12

    Watch Out Exxon

    If you are compared to Apple they will sue you!

  1. jay3ld

    Senior User

    Joined: Jul 2004

    +7

    Makes you wish...

    That you had bought the stock many years ago and didn't sell it.

  1. chas_m

    Joined:

    +9

    Go Apple!

    Never thought I'd live to see this day.

  1. viktorob

    Fresh-Faced Recruit

    Joined: May 2011

    +14

    Where is Bill Gates and Michael Dell?

    So Bill, you were saying? why is Steve Jobs even trying to be Apple's CEO?
    Miky Dell, Still thinking you would sell the company and give the money back to the shareholders?
    Can some body please get us their opinion?

  1. testudo

    Forum Regular

    Joined: Aug 2001

    -8

    Re: Where is

    Yeah, because back in 1997 the future did look so bright, back when Apple was bleeding money and it's stock value was LESS than the company's value, and Steve Jobs sold all his stock because he had no faith in himself that the company could be turned around. Yeah, what was Dell thinking...

  1. edinburghmac

    Fresh-Faced Recruit

    Joined: Jul 2004

    +3

    Re: testudo

    ...and so much for your continual sniping at every move Apple has made for the last 10+ years on Macnn - good job they haven't been listening to you as they turned the company around. You may not like it but they've obviously been doing the right thing in the decisions that have been made.

  1. jalb

    Fresh-Faced Recruit

    Joined: Jan 2008

    -2

    Re: testudo

    Testy - that just shows that real Mac users (and long-term AAPL stockholders) had more faith in Steve Jobs than Steve Jobs himself. It's all about faith in the company - you either have it or you dont. Nothing will convince those who don't have it, even becoming the most valuable company on Earth.

  1. testudo

    Forum Regular

    Joined: Aug 2001

    -2

    Re: testudo

    Testy - that just shows that real Mac users (and long-term AAPL stockholders) had more faith in Steve Jobs than Steve Jobs himself.

    Please, the love affair with Apple would exist even without Jobs.

    And I'm an AAPL shareholder. So what does that say?

  1. testudo

    Forum Regular

    Joined: Aug 2001

    +1

    Re: testudo

    ...and so much for your continual sniping at every move Apple has made for the last 10+ years on Macnn - good job they haven't been listening to you as they turned the company around. You may not like it but they've obviously been doing the right thing in the decisions that have been made.

    That's a specious argument. They've made 'good' decisions. They've certainly made profitable ones. But to say they were the 'right' decisions implies that making other choices would net them fewer $$$.

    And Apple's decisions of late have basically said "We don't care about our long-time loyal customers. We're just moving forward.". Apple may have a whole lot more users now, and making a whole lot more money, but many of these users see Apple as just a design company. They're an 'it' brand, like Abercrombie and Fitch or Calvin Klein. But they aren't loyal customers. They buy Apple because it's cool or hip to have Apple.

    I was using Apple products when it was cool (80s) and really, really un-cool (90s). The only reason Apple existed as long as it did for Jobs to turn the company around is because of us loyal users. And the thanks we get is to be ignored.

    BTW, sniping and harping and criticising a move by Apple does not mean one isn't a fan or a user. It just means someone disagrees with something they did. It is allowed to disagree. The problem with many mac-heads is that they treat Apple like a church, that any criticism of the company is, in fact, a criticism of them. And, as such, that criticism must be shouted down. That isn't how the company is run, so it shouldn't be how people treat it.

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