Apple surpasses Exxon to become most valuable US firm

Apple New York store Apple had been in number two spot since May 2010

Related Stories

Technology firm Apple has become the most valuable company in the US, with its market capitalisation overtaking that of Exxon Mobil.

Apple had briefly become the largest US firm on Tuesday, before dropping back below the oil giant.

But Apple has now managed to stay in the top spot at the close of Wall Street for the first time.

It fell 2.8% to end at $363.69, giving a market cap of $337bn (£209bn). Exxon is now worth $331bn after it fell 4.4%.

Exxon, which had been the most valuable company since 2005, saw its stock fall 4.4% to close at $68.03.

Apple had been in second spot since May last year when it overtook Microsoft.

Whereas Exxon has limited growth prospects, because it is reliant on oil prices and new oil discovery, Apple can continue to come up with new technology products.

Apple tends to introduce a new product roughly every three years, which would mean a new gadget in 2013 after the launch of the iPad in 2010.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories



  • Peaky Blinders publicity shotBrum do

    Why is the Birmingham accent so difficult to mimic?

  • Oliver CromwellA brief history

    The 900-year-story behind the creation of a UK parliament

  • Beer and alcoholAbstinence wars

    The struggle to claim the month of October

  • Image of Ankor Wat using lidarJungle Atlantis

    How lasers have revealed an ancient city beneath the forest

  • Tesco signBest before?

    Has Tesco passed its sell-by date, asks Richard Anderson

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.