Apple Tops Exxon Mobil in Market Cap
NEW YORK (
) -- Tech's most beloved stock,
Apple
(AAPL) - Get Apple Inc. Report
, surpassed energy giant
Exxon Mobil
(XOM) - Get Exxon Mobil Corporation Report
in market capitalization on Tuesday to become the most valuable company in the world.
Just past midday, as
Apple shares were continuing their upward trajectory
by 4%, the company's market cap -- or share price multiplied by its number of shares outstanding -- clocked in at about $341.5 billion, slightly above Exxon's $341.4 billion.
|
Exxon is still a significantly larger company than Apple in terms of revenue, with sales in 2010 of $383 billion compared with Apple's $65 billion.
Last year, Apple surpassed
TheStreet Recommends
Microsoft
(MSFT) - Get Microsoft Corporation Report
to become the most valuable tech company by market cap
at a valuation of $222 billion.
The Cupertino, Calif., company's growth keeps flowing as it continues to release must-have consumer electronic devices like the iPhone and iPad.
The latest version of its iPhone
will likely be released this fall
.
--Written by Olivia Oran in New York.
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