Thursday, August 04, 2011

Apple Closer to Most Valuable Company Title

technology/bit-applemarket/bit-applemarket-blog480.jpg" alt="Apple stock price" />Google Finance
Stocks fell drastically on Thursday as investors showed fears of a deeper economic slowdown and a debt crisis that is now spreading quickly through Europe.  Apple, one of the best-performing stocks of the year, also took a hit.
But it took less of a hit than others. So Apple is now only $16 billion shy of passing Exxon Mobil, the energy company, as the most valuable company in terms of market capitalization.
At market close, Apple’s stock had fallen $15.20, or 3.87 percent, putting its market capitalization at $350 billion. Exxon Mobil fell $3.88, or 5 percent, for a market capitalization of $366 billion.
This is a drastic change from two weeks ago, when Apple was $50 billion shy of  being crowned with the title of the world’s most valuable company.

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