As we know Apple is the largest smartphone manufacturer of the world. Now Apple is the most valuable company in the world. According to MacRumors, the market valuation of Apple briefly passed ExxonMobil. The market valuation of Apple reached $341.55 billion. ExxonMobil, which is the previous most valuable company is now at 2nd position. The market valuation of ExxonMobil was valued at $341.42 billion. For those who don’t know, ExxonMobil is a popular American energy company that started in Steve Jobs’ garage 40 years ago. ExxonMobil drills oil from many parts of the world.
You should note that Apple didn’t pass ExxonMobil by rising up in price. The overall markets have dropped over the past couple weeks, so both Apple and ExxonMobil are significantly off their highs. This shouldn’t come as a surprise because Apple took much less of a hit than other companies, including financial institutions during the period of recession in 2008.
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