Apple and Exxon race for most-valuable crown

Exxon has held that title since 2005, but Apple surged ahead for much of the day Tuesday.

By Kim Peterson Aug 9, 2011 3:18PM
Updated 4:20 p.m. ET

Which is the world's most valuable company: Apple (AAPL) or Exxon Mobil (XOM)?

Until Tuesday, the answer had been Exxon. We're talking about a company that set a record in 2008 for the highest quarterly earnings of any company ever. But Apple shares have been on an unbelievable march since 2009, and Apple passed Exxon to become the most valuable company.

For much of the afternoon, anyway. But Exxon came back at the last minute.

Apple shares closed up nearly 6% Tuesday to $374.01, giving the company a market cap of $346.74 billion. Exxon shares rose a little more than 2% to close at $71.64, making its market cap $348.32 billion.

Exxon has suffered lately as oil prices have dropped, and its growth prospects are limited, the Associated Press reports. The company is still raking in money hand over fist -- it made a $10.7 billion profit in its last quarter -- but Apple has the momentum.

Apple made a $7.3 billion profit in its last quarter, and continues to build sales around the world. It's the 800-pound gorilla in the tablet market, and its computers and iPhones have maintained incredible growth.

Investors are starting to look more confident in Apple's future than Exxon Mobil's.

Exxon Mobil shares may come back, however, and leave Apple in the dust. But for part of the day, Apple officially basked in the spotlight as the most valuable company.


Aug 9, 2011 6:05PM

Gee... I wonder when the liberals are going to insist that Apple pays more taxes and give up there monopoly on the iPhone?  I mean, how much profit does one company need to make.  Why not help the poor oil millionaires with some of that cash.

Aug 9, 2011 11:04PM

And yet Exxon pays no taxes, and gets $156 million in government handouts. Brilliant!


Aug 9, 2011 6:36PM
Apple has made their profits on the backs of the Communist Chinese worker, and outsourced American manufacturing jobs. Buy Apple and support the Communist/Socialistic society.
Aug 9, 2011 7:25PM

Yep. You can sell the I-sheep anything. They will buy it.


I held tight during the last downturn.  I felt it would come back.  Fortunately I was right on.  However there is much work to be done for our government.  Especially in expense reduction and the halting of programs that cost a lot of money but do nothing for the country's financial help. 


We need to create jobs by reducing taxes especially on small businesses.  And stop spending money overseas  like building and remodeling mosques hoping to get good will in return.  There is only one goal of countries committed to muslim fundamentalism..  That is the death of jews and christians.  Wake up America before it's too late!!

Aug 9, 2011 10:19PM
The best way to save jobs is to reject technology and insist on personal service. the job you could be saving may someday be yours !
Aug 9, 2011 10:02PM
Well...We have an oil industry in which last indexed profit rose to a mere 10.7 billions of US dollars.  Should the government get on those oil companies so they can put a cap in their benefits  to be given to the final consumer?
Aug 10, 2011 2:05AM
Kill the car! It's an antiquated design, created to emulate a horseless carriage and further designed using parameters that included gasoline that was dirt cheap. In our minds, we're committed to its existence. Instead of looking for alternative energy, we should kill the car and start re-designing it from scratch. NO, I don't mean some dumb thing like an electric car! You've got to take the car out of your mind - pretend it never existed. If you began engineering a new car today, you would look at this existing design as crap. A much better, alternatively driven vehicle exists. Of course, the automotive and oil industry would fight this to no end.
Aug 9, 2011 7:52PM
My bet is still on Exxon Mobil, because big oil has so much influence over Washington. You can be sure that Exxon will spend millions of dollars to lobby politicians so that they get to keep government subsidies that had allowed them to outsource jobs to cheap labor in 3rd world countries, and the GOP controlled House will certainly keep taxes very low for companies like Exxon Mobile, so they can continue to keep all the money they made by a combination of shipping American jobs overseas, and selling gas back to Americans at astronomically high prices. If you have money to invest, go with Exxon-Mobil (XOM), Chevron (CVX), and other big oil companies. After all, if you can't beat these evil corporations that have Americans politicians in their pocket, you might as well join them and make some money.
Aug 9, 2011 7:33PM
For those of you who think welfare is free money, do your research, that poor sap whose getting half his check taken for child support is paying back every dime the goveernment gives the mother of his kids, and yeah he had no say so in the matter, just pays, and even sometime they tack on the medical bills for the birth too.  If I make a million dollars I don't care if I have to pay 250K in taxes, I stll have 750K and this is pretty much the only place in the world that someone can still make it. 
Aug 9, 2011 6:03PM
Hot Stockholder's have $66 billion in equity in Apple and $155 billion in Exxon so I guess Exxon's more valuable than Apple.  As for market cap, people have more invested in Apple than Exxon based on today's closing stock prices.  Scary for Apple investors?
Aug 10, 2011 8:48AM


exxon being subsidized by our tax dollars is a false statement. The tax breaks were for produced oil/gas from hard to produce formations. We never had the money so it is hardly our tax money. Besides the research involved has resulted in Billions of dollars of potential domestic production. Saudi Arabia's national oil company controls 92.5% of all of its oil until the moment it flows into your tank as gasoline. Exxon could sell its 7.5% at $2/gallon, but, what would happen after that gas is sold? vineagroon needs to do more research beforehe/she makes such ridiculous statements. I think that a market cap of $350 billion means that we should all be in the oil and computer business. 

Aug 10, 2011 12:11PM
If people can buy the crappy items that apple sell,  the economy isnt that bad! There isnt a single item apple sells that we NEED.... it is all the stuff we want.
Aug 10, 2011 8:54AM
exxon tax subsidies, you only know what liberals have told you. Dems gave exxon, etc, tax subsidies so that research into difficult to produce formations would not be such a losing proposition. Results were that we have more natural gas then saudi's have oil. exxon moving jobs overseas. what a joke. you don't think apple, microsoft, etc. made their billions using labor fron indoa and china. DXz needs to do some research before making really ignorant statements.
Aug 10, 2011 10:20AM
Ok If I were the President of the United States of this Great America, I would have our Government  overseeing companies like these Exxon and Apple that show high profitability in our stagnant economy that could possibly provide jobs to our communities and cities that have a high rate of unemployed workers with great tax incentives if you hired the unemployed, also I would regulate the price per gallon of gasoline to even provide cheaper cost for   transportation and the production of goods that are manufactured in this country to lower the cost to the consumer. We have to start somewhere we need to bring down our deficit by the creation of incentives for Companies that hire the unemployed. Unemployment is a sad word I have been unemployed myself for 4 years I have worked hard for all of my life and now I cannot even get a decent job or unemployment, We the unemployed are not looking for a handout we are looking for work, and if your profits are that high you can provide a great incentive to our Economy by providing jobs for the people taxation with representation for the people. Mr President look at the obvious things that create wealth we need jobs. If these Companies take an active roll in creating them we can revive our economy and bring down our deficits. Regulate the price of Gasoline to create the New economy and oversee Companies that can create jobs and offer those Companies incentives for creating those jobs. The gallon of gasoline is a smart bomb destroying our economy with a trickle down effect. Wake up and lets start the revolution of Job Creation.
Aug 10, 2011 8:57AM

I'll quit posting on this site. Get a job, quit taking any forms of welfare, pay your own way. That is the way our society nees so that we can get the economy back on track.

Aug 10, 2011 1:31AM
oh you mean that poor sap, ah the one that knocked up that girl so she could be lucky enough to have his kid, oh that poor sap??  the one that if wasn't forced to wouldn't pay a dime towards the raising of that kid and all the others fathered by him, OMG!! he is such a stud.
Aug 9, 2011 6:27PM
While both very profitable  companies, both leaders in there own field  Apple seems to shine very bright with always being a step ahead of the pack.
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