Apple Pushes Past Exxon To Become The Most Valuable Public Company In The World (Temporarily)
64 replies, posted
[quote]
Well, I didn’t expect it to happen until the fall — but I also didn’t anticipate the stock market collapse. And yet, here we are. After yesterday’s plunge, and today’s rally, Apple has just overtaken Exxon as the most valuable public company in the world.
The feat happened briefly this morning, before Exxon surged a bit ahead once again (update below). As of right now, the two are separated by under $500 million. That’s remarkable when you consider that just three weeks ago, at the time of my post, the two were $60 billion apart.
But again, this is already a different time. Three weeks ago, Exxon’s market cap was at $410 billion. Today, that market cap is just a hair above $340 billion. The share price has plummeted from $85 down to $70. And with the broader market collapse, Exxon’s price fell nearly $5 yesterday alone. That wiped out nearly $25 billion in market cap in one day.
Apple got hit hard as well yesterday, but not nearly as bad as Exxon. And today, while Exxon’s stock remains depressed, Apple’s has been rallying. Hence, the changing of the guard.
We’ll see what the stocks end up closing at, but it seems pretty clear at this point that Apple will be formally crowned the most valuable public company in the world at some point shortly.
Update: Apple is now ahead of Exxon again. And the gap seems to be increasing — Apple has over a billion dollar lead.
[img]http://tctechcrunch2011.files.wordpress.com/2011/08/screen-shot-2011-08-09-at-10-57-11-am.png?w=640&h=98[/img]
Update 2: As both stock are now falling, Apple’s lead is increasing. Now over $3.5 billion.
[img]http://tctechcrunch2011.files.wordpress.com/2011/08/screen-shot-2011-08-09-at-11-22-20-am.png?w=640&h=107[/img]
Update 3: About an hour til market close, and Apple now over $5 billion ahead.
[img]http://tctechcrunch2011.files.wordpress.com/2011/08/screen-shot-2011-08-09-at-11-56-52-am.png?w=640&h=103[/img]
Update 4: And with just 30 minutes to go, Exxon has pulled back ahead, with a huge surge.
[img]http://tctechcrunch2011.files.wordpress.com/2011/08/screen-shot-2011-08-09-at-12-28-42-pm.png?w=640&h=108[/img]
Update 5: And the massive last-minute surge sees Exxon close the day just ahead of Apple still in market cap.
[img]http://tctechcrunch2011.files.wordpress.com/2011/08/2.png?w=640&h=103[/img]
[/quote]
Source: [url]http://techcrunch.com/2011/08/09/apple-exxon-valuable-company/[/url]
[QUOTE=RIPBILLYMAYS;31642268]uh[/QUOTE]
Or you could wait until I fixed it.
[QUOTE=Edgar Allan Poe;31642279]Um.[/QUOTE]
Same goes for you.
lets all bitch and moan about how bad apple is!!!!!
Why so successful? They just make computers and douche baggy commercials.
[QUOTE=cqbcat;31642507]Why so successful? They just make computers and douche baggy commercials.[/QUOTE]
They sell [b]alot[/b] of computers and mobile devices.
My hunch was correct apple is trying to take over the world.
soo uh. Who's the underdog here again?
[editline]10th August 2011[/editline]
Oh right apple. No one will ever buy those shitty things.
[QUOTE=MightyMax;31642594]Oh right apple. No one will ever buy those shitty things.[/QUOTE]
Yeah, they just get all there money and sales from invisible people.
I swear to god, they're trying too hard to become a monopoly.
[QUOTE=MightyMax;31642594]soo uh. Who's the underdog here again?
[editline]10th August 2011[/editline]
Oh right apple. No one will ever buy those shitty things.[/QUOTE]
Other than all those people that buy apple products...
[QUOTE=J!NX;31642724]I swear to god, they're trying too hard to become a monopoly.
Other than all those people that buy apple products...[/QUOTE]
never mind dell, hp, asus, and the loads of other computer vendors, apple exists and is a monopoly!!!!
No self respecting person will ever use an apple product.
Of course its the Mac user that rates you dumb
[QUOTE=Jelly;31642663]Yeah, they just get all there money and sales from invisible people.[/QUOTE]
COD games are extremely popular as well. What's your point?
[QUOTE=Hazard Fox;31642956]Of course its the Mac user that rates you dumb[/QUOTE]
Same would happen if I said that anybody who had any self respect wouldn't buy a windows PC.
[QUOTE=aydin690;31642998]COD games are extremely popular as well. What's your point?[/QUOTE]
Mine is that people do buy Apple products. What's yours?
well, they do sell tons of overpriced shit. that money from ripping everyone off does get back to them.
[QUOTE=Mattk50;31643090]well, they do sell tons of overpriced shit. that money from ripping everyone off does get back to them.[/QUOTE]
Just for reference a Kinect only costs $149 but the actual manufacturing cost is $56 almost a 300% increase whereas an iPad costs $499 and production cost is $260 almost a 200% increase.
Source: [url]http://kotaku.com/5688040/report-kinect-only-cost-56-to-make[/url] [url]http://mashable.com/2010/04/07/isuppli-ipad-cost/[/url]
[editline]a[/editline]
Why am I getting rated dumb when I've provided true claims and even provided sources?
[QUOTE=cqbcat;31642507]Why so successful? They just make computers and douche baggy commercials.[/QUOTE]
They make good casual devices.
[editline]10th August 2011[/editline]
[QUOTE=Mattk50;31643090]well, they do sell tons of overpriced shit. that money from ripping everyone off does get back to them.[/QUOTE]
If something is overpriced it doesn't sell. People who suggest their devices to others obviously don't feel like they've been ripped.
[QUOTE=aydin690;31642803]No self respecting person will ever use an apple product.[/QUOTE]
no self respecting person would ever use a microsoft product for anything more than gaming. apple software is superior to microsoft in just about every way except gaming
by the way this was an exaggeration to make a point, in case you didnt notice
[QUOTE=aydin690;31642803]No self respecting person will ever use an apple product.[/QUOTE]
Apple UI + aesthetics are incredibly well done compared to most of the clunky alternatives. They have lots of restrictions and what not, but their products are incredibly well polished so I don't see what the problem is.
[editline]10th August 2011[/editline]
[QUOTE=yawmwen;31643267]no self respecting person would ever use a microsoft product for anything more than gaming. apple software is superior to microsoft in just about every way except gaming[/QUOTE]
I fix PC's and I always tell people to buy a Mac, because of how much headache it'll solve them in the long run.
[QUOTE=JLea;31643284]Apple UI + aesthetics are incredibly well done compared to most of the clunky alternatives. They have lots of restrictions and what not, but their products are incredibly well polished so I don't see what the problem is.
[editline]10th August 2011[/editline]
I fix PC's and I always tell people to buy a Mac, because of how much headache it'll solve them in the long run.[/QUOTE]
This dude right here. Apple is the king of simplicity and usability, it's a great combination and works wonders. That's why apple products sell. They cater to everyone really.
if exxon is so public how come i've never heard of them
[QUOTE=christarp13;31643616]This dude right here. Apple is the king of simplicity and usability, it's a great combination and works wonders. That's why apple products sell. They cater to everyone really.[/QUOTE]
Except people who want to play games.
Oh consumerism...
riveting news chap
[QUOTE=Kid Cudi;31643685]if exxon is so public how come i've never heard of them[/QUOTE]
You should have. Exxon Valdez?
[QUOTE=Kid Cudi;31643685]if exxon is so public how come i've never heard of them[/QUOTE]
It's been a while since they killed a few ecosystems.
Google surpasses them.
I have an ipod touch 4g
Bite me
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