Exxon regains title of world's most valuable company after Apple debacle
decline of 38% since then has taken Apple's market cap below Exxon's allowing the latter to regain the top spot as the world's most valuable company. Exxon now has a market cap of $418.23 billion versus Apple's $413.06 billion. The company seems to have lost the backing of Wall Street and main street. During its run up to all time highs, both good news and bad news were equally rewarded. Now, good news and bad news are equally met with selling. While Apple CEO Tim Cook might say that the product pipeline is "chock full," the cycle that Apple is currently in cannot easily be broken.
About a half dozen U.S. companies in history have hit the $500 billion value mark including Apple, Microsoft and Exxon. Only Apple and Microsoft have ever hit $600 billion.
In other Apple news the company has started pushing out iOS 6.1 beta 5 to registered developers. The update will allow Siri to buy movie tickets, and should improve Apple Maps, Passbook and a fix a few bugs. Beta 4 expires on Tuesday, so registered developers need to update to beta 5 ASAP!
source: TheGuardian, RedmondPie (1), (2)
1. Topcat488 (Posts: 1124; Member since: 29 Sep 2012)
Maybe Apple lost the backing of Wallstreet and Main street, is because they used imaps and couldn't find their way to the markets, to back them(Apple) again... :/
6. iamfury (Posts: 59; Member since: 07 Oct 2012)
This my friend is the end of the forbidden fruit....!!!!
10. Mxyzptlk (Posts: 3301; Member since: 21 Apr 2012)
This is only the calm before the storm when the next iPhone comes out.
12. maxis3G (unregistered)
are you kidding me??
20. Mxyzptlk (Posts: 3301; Member since: 21 Apr 2012)
No I am not. Everyone keeps posting doom and gloom for apple. This happens every time before they announce the next iPhone.
21. tedkord (Posts: 4470; Member since: 17 Jun 2009)
You mean the 5s, which will be the exact same iPhone with a slightly faster cpu and better camera? That'll be quite a storm, for sure.
The stock dropping 40% does not happen every time a new iPhone is announced. Besides, one hasn't been announced.
This isn't the end of Apple. Its the end of Apple being able to cruise on its name. They will have to actually compete now if they want to survive. They've coasted on their logo for seven years now relying on lawsuits to keep the competition from blowing past them in innovation and sales. That didn't work 30 years ago in the desktop market, it didn't work the past two years in the smartphones market, and we're starting to see the same outcome in the tablet market.
27. bparkerson (unregistered)
""Before they anounce the new iphone"? This happened after the release of the iphone5 and ipad mini. Say what you want but statistics dont lie.
57. Imbatman (Posts: 10; Member since: 07 Jan 2013)
My android wont bend when i sit on it on accident and it wont cost me 600+$ to buy a new one when mine gets stolen. Either way, nokia makes some pretty phones but alas I wont buy a WP8. So android will beat apple and apple will slowly corrode away to a lower stock. They wont initially be dead but they will not be back ontop like they were in the past few years. Their time is over, Androids is here, then possibly Linux / WP. All things end and its apples turn to crumble.
59. Berzerk000 (Posts: 3939; Member since: 26 Jun 2011)
It's only been 4 months though since the iPhone 5 came out. Usually this happens 2-3 months before the iPhone comes out, so are you saying that Apple is going to release another iPhone only 6-7 months after the previous one? That seems rather odd for them to do.
Or are you just pulling out an excuse to try and cover up that Apple is starting to nosedive? I mean, come on, even in the Asian countries where brand names are the biggest deal, Apple is starting to slip. Unless iOS 7 is some major overhaul, they'll continue to go down.
Apple has been riding on the same plain old OS for 6 years. Time for them to do something new, or get out of the game. They're taking the same route RIM took.
26. JonBjSig (Posts: 176; Member since: 17 Nov 2011)
Then why did the iPhone 5's release do nothing for Apple's market share?
When the iPhone 5 was released Apple's stocks continued to slide, a slight bump in November and then it slid to where it is today.
44. dan86 (Posts: 298; Member since: 17 Mar 2012)
Ya storm is waiting to come when Apple Inc would be declared bankrupt after filing official form no 10.
11. Mxyzptlk (Posts: 3301; Member since: 21 Apr 2012)
I'm lost on how you think that was funny.
16. -SEUL8TR- (Posts: 113; Member since: 13 Jan 2013)
I'm really so happy, and wish that it drops to 240 in next 4 to 6 weeks, GOD this bad fruit doesn't deserve to be cherished nor shall they have cults, hippys, and users praising this theif.
53. metalpoet (unregistered)
I hope their value drops so far that they decide to remove themselves from the mobile market and go back to what they were doing before the world found out that apple is full of douches....go back to making your over priced computers!
49. Nathan_ingx (Posts: 2999; Member since: 07 Mar 2012)
I never really understood your species Mxyzptlk...
It's like the whole of the zptlk species from planet M clashed with planet Apple and BOOOOM, Mxyptlk is born...makes sense? No? I feel the same...
54. metalpoet (unregistered)
haha dude thats hilarious! :)
56. blazee (Posts: 254; Member since: 02 Jan 2012)
is it bc you used apple maps? lol thats a good one
2. abdane (Posts: 474; Member since: 07 Oct 2011)
apple went down from $663B to $413B and will still go down...
43. appleDOESNT.com (Posts: 423; Member since: 19 Nov 2011)
"In other Apple news the company has started pushing out iOS 6.1... ... The update will allow Siri to buy movie ticket..."
After reporting Apple's huge failures in the stock market and market cap, you close with that, lol. Yep siri buying movie tix will get apple back on top!!1 not omg so funny PA :/
3. maxis3G (unregistered)
your TIME IS UP!! APPLE!!!
17. -SEUL8TR- (Posts: 113; Member since: 13 Jan 2013)
I'm really so happy, they should be tumbling very soon, and will be joking BB and Nokia WP8....
29. maxis3G (unregistered)
38. thelegend6657 (unregistered)
Isn't maxis 4gLTE already available in several areas ?
Btw , why you use a carrier name as your username ?
You might as well use a maxis logo as your avatar , retard
4. MC1123 (Posts: 1236; Member since: 12 Nov 2012)
I don't think that Exxon deserve the title.. they still didn't pay the families that was affected by the Exxon Valdez tragic
9. maxis3G (unregistered)
not sure about that
but if thats true...
BOTH OF THEM DON'T DESERVE THE TITLE!!
50. quakan (Posts: 1156; Member since: 02 Mar 2011)
Don't deserve it??? It wasn't like the were voted into these positions, it simply is a matter of fact.
55. metalpoet (unregistered)
yes lets make either google, samsung, microsoft, or subnoize records that most valuable company in history!
5. Droid_X_Doug (Posts: 5591; Member since: 22 Dec 2010)
I suspect that the straw that broke the camel's back was probably the house-cleaning that had to happen. With the house-cleaning came the dirty laundry. When the world saw that the emperor had no clothes, gravity took over and the share price started its down-ward path.
13. PhenomFaz (Posts: 1064; Member since: 26 Sep 2012)
but truly speaking it was only a matter of time before this happened not because I dont like Apple but because at the end of the day its just a mobile / computer manufacturer. No offense to any onf the other companies in the same field but if these companies started becoming the most valuable companies on the planet then we would have entered the dark ages!
There are more pressing matters like oil, infrastructure, power, etc that need to be catered to and these companies rightly deserve the valuation they have.
I think I would vote for oil in y car and electricity in my home over whether I have a smartphone or not!
7. Jphones (Posts: 233; Member since: 10 Feb 2012)
all that money and people starving in the world.smfh
8. shamataa (Posts: 202; Member since: 07 Dec 2011)
Apple is nothing now. just a lone company with no new ideas only small useless updates that nobody is going to find it useful
14. cheetah2k (Posts: 772; Member since: 16 Jan 2011)
But they have all those patents for rectangles with curved edges.. Great load of good that did for Kodak, when that's all they had left to sell to stay a float..
For sure Apple ain't done yet, but you're right, its just a lone company doing stuff outside the box lacking innovation.
15. ogy_dogy (Posts: 453; Member since: 29 Jun 2012)
Here come the 90s again... but hey, maybe they can get steve wozniak to help them out this time...
18. -SEUL8TR- (Posts: 113; Member since: 13 Jan 2013)
This time no one will help this greedy, litigation company.
19. BadAssAbe (Posts: 434; Member since: 22 Apr 2011)
iPhone 5S leaks out
New iOS 6.x
Stocks will drop even more, most Americans have finally realized how overpriced apple really is.
Sells should go up if apple iphones
Makes bigger screens
lower prices on all models
add sdcard slot for media only
Stop sueing everyone
22. jaabubut (Posts: 13; Member since: 20 Jan 2013)
Put the bluetooth transfers data .... and walaaaa.....
24. s.mrabet (Posts: 117; Member since: 26 Oct 2011)
wifi direct, bluetooth trasnfer is old school
30. ramonleonjr62 (Posts: 48; Member since: 17 Oct 2012)
woow it did not last long like always apple is a apple
31. ilia1986 (unregistered)
Down with apple! :D
32. deadstroke (Posts: 113; Member since: 22 Jan 2013)
well what go up most go down an what about this phone since it came out is only fixing bug on that phone
33. Slammer (Posts: 977; Member since: 03 Jun 2010)
No leader of Apple has been able to command the ship such as Steve Jobs. Due to his tenacity, appeal, strong belief and true love for "his" envisioned products, Apple is healthy yet extremely vulerable since his passing. Apple needs to be very careful here on forward. Dismissing some key employees that Steve hand picked himself to make Apple extremely successful, was one mistake. But in reality, a mistake that may not have made any difference. The world banked on Steve's persona; not just Apple as a company. He's gone and so are his visions.
35. -SEUL8TR- (Posts: 113; Member since: 13 Jan 2013)
Good no one liked that the if, also he's gone and everyone is happy, Apple no soon will be going very down.
Shaaaarap go away!!!!!
36. jsjr76 (Posts: 24; Member since: 28 Sep 2010)
I wish that could be as ignorant as 99% of the people that make comments on here. Where did this hatred for Apple come from!? Is it because of the s**tty Androids that you all use happen to be made, hmmmmmm, in an Asian factory JUST LIKE APPLE phones are tell you that they aren't? Or is it because you just because you want someone to hate and people that own iPhones on average live at a higher level than Android owners! Take a business class folks, or better yet, try owning a business! They sue because their competition is stealing their technology! Would you sue if someone stole your technology, or hug a tree? Their stock has temporarily tanked because the market ( number of people that can actually use a cell phone) has been saturated. 86% of the countries entire population has a cellphone. Just how many iPhones do you think can be sold? With 23 million unemployed, how many laptops do you suppose can be sold? And to the ignorant ass that hopes their stock sinks, SEUL8TR, you really are an idiot. When you have 1000 shares of their stock it'll mean you're smart enough to afford, meaning you'll think how dumb your comment is, just like I do. Apple simply makes a better product. Period. All the complaints, no SD Card slot, no bluetooth transfer? Really? SD cards suck folks, depending on what brand phone you switch to makes the difference in whether or not the files transfer. Yet iPhone apps don't crash, iPhones can be repaired anywhere for less money, you can get "stuff" for them anywhere. It's called capitalism folks, if someone is willing to pay a premium for something then that's what you sell it for. Don't hate cause' you can't or won't afford it. Stocks rise and fall, Apple is developing new and amazing "toys" and watch, just watch. Get a life people, and a brain
39. ilia1986 (unregistered)
Whete does the hatred come from? How bout you ask all those people who tried to purchase the Galaxy Tab 10.1 and the Galaxy Nexus - and couldn't - because due to Apple's greed - these devices got banned.
We will never forget. We will never forgive. The single Consumer electronics company in the history of mankind which dared to ban a competitive product because they couldn't compete with it - shall be forever remembered and hated for - because of its greed and lust for control.
40. wumberpeb (Posts: 421; Member since: 14 Mar 2011)
This comment is ridiculous and delusional on so many levels...
42. VZWuser76 (Posts: 1286; Member since: 04 Mar 2010)
Actually for a lot of people comments like yours. When you say that iphone owners "on average live at a higher level than android owners". Thanks for the token "you hate them because you can't afford it" BS. Yes everyone who owns an apple product must be jet setting around the world or taking their Lamborghini out for a spin. Give me a break! The reason I have issue with them has nothing to do with my ability to afford them, in fact I've bought a few androids at full retail putting them at the same retail price as an iphone. Regardless of that most (at least here in the US are subsidized and going for he same as the high end androids). But that elitist "I have an iphone so I must be rich/important/popular" BS is just silly. IT'S A PHONE! NOTHING MORE! IT DOESN'T MAKE YOU BETTER THAN WHAT YOU ARE! And on this last note I'm not just talking about the iphone, but about any phone. They connect young to the outside world, that's it.
Now the reason I take issue with apple has to do with their business tactics and their view/treatment of the public. They would like nothing more to capture the entire market, but rather than competing solely in the salesroom, they've brought the courts into it. While some of it may have merit, some of what they were allowed to patent should never have been granted. The problem with using their patents to control the industry is it not only hamstrings the current competition, but makes it near impossible for new players to come into the market, which stifles competition and gives them an unfair advantage. Secondly, during the trial against Samsung one of their key arguments was that people couldn't tell the difference between the original Galaxy S and the iphone. While there are similarities, those are no worse than what you see in the auto, TV, computer, and stereo industry, just to name a few. Plus, there is a big SAMSUNG logo on the box, and it's not like they couldn't return it once they realized that it wasn't the iphone. But the way apple depicted the general public, if they were really that ignorant, they shouldn't have a smartphone in the first place. Finally my personal dealings with apple are the main reason why I have no love for them. Suffice to say that I purchased iTunes content from them, something screwed up with their authorization software for the ipod, & I was out quite a bit of money for said content with no help from them. The only thing their guy could be bothered to do was send me links to their support section. Now if this was hardware and out of warranty I'd deal with it. But this was an agreement for the use of media content, and has no expiration date, but they didn't honor their sode of the agreement, so we parted ways.
So before you go and think up bogus reasons for the animosity towards apple, why not actually ask the people first?
46. networkdood (Posts: 6261; Member since: 31 Mar 2010)
well, I guess people are tired of other people who purchase something, albeit, paid more than it is worth, that is just a fashion statement. I look at APPLE vs Android as Sega vs. Nintendo, where Sega was the better system, but Nintendo was the better marketer of its product. However, Android OEMs and Googe are doing far better at selling their products, than Sega has ever been. In the end, it could be good for APPLE users as APPLE may start producing larger phones, and change that dreaded UI.
48. networkdood (Posts: 6261; Member since: 31 Mar 2010)
In the beginning, people were purchasing APPLE iphones because it was different and much easier to use than PALMS, BBs, window mobile phones, etc., but they also got kind of snobby with it. My wife has a 4S VZW and she says it is ok - slow on data speeds and glitches with messaging. I do not like being tied down to Itunes and I hate the lack of customization on the phone....very boring and tiny phone to own, but it is a solid phone for talking and watching videos, playing games, etc. Now, if APPLE could actually produce something better than the top tier ANDROID phone....
37. VLaRueC (Posts: 108; Member since: 18 Dec 2012)
A technology company doesn't deserve to lose the top spot to a greedy oil company. Regardless of who it is. Then again, this article is about market cap. Market cap. Seriously...
41. Slammer (Posts: 977; Member since: 03 Jun 2010)
I agree. But if looking at the top, most profitable companies in the world, it's the "Greedy " corporations that make up the common denominator within the equation. Apple seems to be right there amoung this group.
52. roscuthiii (Posts: 1785; Member since: 18 Jul 2010)
The world runs on petroleum and it's products you know. Exxon is and has always been far more valuable than Apple, depending on how you define the word, "valuable".
45. networkdood (Posts: 6261; Member since: 31 Mar 2010)
Geeze, poor, poor APPLE...stop glorifying greedy companies
51. 9thWonderful (Posts: 230; Member since: 24 Jan 2013)
Uh oh Apple....you are falling asleep at the wheel. Im a fan but don't ignore the warning signs.