Apple overtakes Exxon Mobil as most valuable company

InternAdmin Contributor

Apple overtook Exxon Mobil as the world’s most valuable company for the first time Tuesday, as the computer company’s stock continued to defy a slowing market.

The market value of the consumer electronics giant was $50 billion away from overtaking that of the oil titan when it reported yet another quarter of record-breaking earnings on July 19.

The changing of the guard is due in part to a market slowdown that has depressed oil prices and taken Exxon Mobil stock down significantly. But the switch is also a testament to Apple’s gravity-defying growth.

Full story: Apple overtakes Exxon Mobil as most valuable company