Exxon regains title of world's most valuable company after Apple debacle

Exxon regains title of world's most valuable company after Apple debacle
Last February, Apple's market cap of $470 billion made it the most valuable company in the world, ahead of the former leader, international oil and gas firm ExxonMobil. And  Apple kept going. By August, the stock was worth $621 billion making Apple the most valuable company of all-time and giving it a value 53% higher than the New York based runner-up. Apple even rose higher before peaking on the day that the Apple iPhone 5 launched.

But a 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)

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59 Comments

1. Topcat488

Posts: 1415; Member since: Sep 29, 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: 78; Member since: Oct 07, 2012

This my friend is the end of the forbidden fruit....!!!!

10. Mxyzptlk unregistered

This is only the calm before the storm when the next iPhone comes out.

12. maxis3G unregistered

are you kidding me??

20. Mxyzptlk unregistered

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: 17357; Member since: Jun 17, 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: Jan 07, 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: 4275; Member since: Jun 26, 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.

58. Nadr1212

Posts: 741; Member since: Sep 22, 2012

This is epic(ly) wrong!!!!!!

26. JonBjSig

Posts: 176; Member since: Nov 17, 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: Mar 17, 2012

Ya storm is waiting to come when Apple Inc would be declared bankrupt after filing official form no 10.

11. Mxyzptlk unregistered

I'm lost on how you think that was funny.

16. -SEUL8TR-

Posts: 113; Member since: Jan 13, 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: 4769; Member since: Mar 07, 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: 414; Member since: Jan 02, 2012

is it bc you used apple maps? lol thats a good one

2. abdane

Posts: 507; Member since: Oct 07, 2011

apple went down from $663B to $413B and will still go down...

43. appleDOESNT.com

Posts: 456; Member since: Nov 19, 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: Jan 13, 2013

I'm really so happy, they should be tumbling very soon, and will be joking BB and Nokia WP8....

23. jaabubut

Posts: 13; Member since: Jan 20, 2013

Where is maxisLTE? Hahahhaaha

29. maxis3G unregistered

come soon.....

34. -SEUL8TR-

Posts: 113; Member since: Jan 13, 2013

Very soon.

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: 1256; Member since: Nov 12, 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: 1418; Member since: Mar 02, 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!

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