Apple Becomes the World’s Most Valuable Company Crossing Exxon Mobile

Posted on Tuesday, August 09, 2011 by Unknown

The world’s leading smartphone manufacturer and vendor, Apple Inc., is now the world’s most valuable company surpassing Exxon Mobil Corporation.

Earlier today, Apple’s shares were trading at $367 which made it briefly past Exxon Mobil, with a total worth of more than $341 billion.

Two months ago, Apple was about $50 billion less in worth than the oil and gas corporation. But after reporting record sales (in the last few weeks) of two of the most popular gadgets i.e. iPad and iPhone, it has managed to take over the top position.

On the other hand, Exxon Mobil has seen a steeper decline as oil prices have fallen over the past few days. For how long Apple will be able to keep the top spot? We will have to wait and see where the market settles at the end of the week to find that out.

[via Mashable]