Apple Passes Exxon as Most Valuable US Company

By: Associated Press

Posted: Tue 1:09 PM, Aug 09, 2011

Apple has surpassed Exxon Mobil as the most valuable company in the U.S.

Apple Inc.'s stock gained 3.2 percent to $364.60 on Tuesday afternoon, bringing the iPhone and iPad maker's market capitalization to about $338.0 billion

Exxon Mobil Corp. shares, meanwhile, were trading at $69.45, down nearly 1 percent. That gives the oil company a market cap of $337.7 billion.

Other big-name corporations, such as Wal-Mart Stores Inc. and General Electric Co., don't even come close.

Apple has been on a roll with the soaring popularity of its iPad tablet computer and strong sales of the iPhone. Investors expect Apple to grow as long as it keeps making products that people want.

Exxon has limited growth prospects. Its growth is driven by fluctuating oil prices and discovering new oil.

Longtime BISD Employee to Head Up Downtown Bryan Association

We ask that the following Community Standards be followed:

Comments must not be profane or vulgar.

Comments must not use hate speech, racial slurs, or violent descriptions.

We encourage varying views to be shared. We do ask commenters to not personally attack other readers, groups, people featured in our stories, or other posters for disagreeing with their views.

Comments must not contain negative, comparative debates between community standards of cities or towns.

Comments must contribute to the discussion, flaming and/or trolling will not be tolerated.

Comments must be truthful and not intentionally falsified. Providing a source link is encouraged.

If you find that a comment violates the above rules, please use the flagging option located to the right of the comment to notify the moderators.
For a complete list of guidelines, please follow this link:
http://www.kbtx.com/home/misc/Online-Commenting-Policy-181579421.html

Apple Passes Exxon as Most Valuable US Company

Money Headlines By CBS