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This Major Political Shift Could Rock Copper Markets

This Major Political Shift Could Rock Copper Markets

Chile’s upcoming Presidential elections could…

ExxonMobil Overtakes Apple to Become the World's Largest Company

ExxonMobil Overtakes Apple to Become the World's Largest Company

A year after it took the mantle of the world’s most valuable company from ExxonMobil (NYSE: XOM), Apple Inc. (NASDAQ: AAPL) had to hand it back following several difficult weeks which have seen its share price fall to a 12 month low.

Apple first overtook ExxonMobil as the world’s largest publically traded company on the 10th of August 2011 when Apple closed on $363.69 a share, and Exxon closed at $68.03 a share.

Since a record high last September shares have fallen by 37%.

Related article: Kirkuk Poised for Conflict, BP Enters Fray

Shares in Apple closed down 2.4% at a value of $439.88 a share, giving it a total market capitalisation of $413.06 billion; ExxonMobil on the other hand finished 0.4% up at $91.73 and a market capitalisation of $418.23 billion. Apple’s shares did manage to pass Exxon during the day, but could not hold that position at the close.

For the year to date Apple’s shares have dropped more than 17%, making it the worst performing company on the S&P 500 Index; the largest drop came on Thursday when the share value dropped by 12% on the back of disappointing growth forecasts, despite the record earnings also published. ExxonMobil on the other hand gained nearly 6%.

By. Joao Peixe of Oilprice.com



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