Apple Overtakes Exxon Again, On Its Way To Be First Trillion Dollar Company

Apple Overtakes Exxon Again, On Its Way To Be First Trillion Dollar Company

Photo by Craig S - http://flic.kr/p/4qVSGp

It’s a roller-coaster on Wall Street. As stocks dived, the venerable Exxon-Mobile continued falling, giving Apple (however briefly) the largest publicly-held company in the world. This comes amid growing speculation the consumer tech titan could be the first company worth $1 trillion.

In a repeat of Tuesday’s madness, the Dow Jones Industrial Average fell off an early cliff, plummeting more than 400 points Wednesday. By mid-day, Apple’s market capitalization was $341.64 billion, higher than Exxon’s $336.70. Apple briefly took the lead Tuesday, before the energy giant made up losses to pull ahead by the end of trading.

Could Apple be worth $1 trillion? That’s the current topic of discussion among Wall Street mavens who believe the white-hot tech stock could be worth $900 billion given Apple’s blockbuster sales amid lackluster profits-to-earnings ratio. While tech darling LinkedIn has a P/E of 13.2, Apple is rated at 0.2. This despite an 80 percent annual growth – 10 times that of average firms.

In human terms, a $1 trillion Apple would be like combining the market value of Microsoft, Google, Intel, Amazon and other tech giants, according to the New York Times. As we reported earlier today, Apple still has room to grow.

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  • Mike Rathjen

    I just paid $23.86 to buy a sword SO I CAN STAB COMMENT SPAMMERS.

  • michael dreves beier

    Somehow I do not hope that will happen to Apple. Look what happened to Cisco Inc in the early 2000. I hope the focus for Apple, and the #1 priority,  will be to deliver great design and innovative software and user experience. What ever market value that will bring is well earned this way 

  • 300AShareMakesMeSmile

    Just because Apple passed ExxonMobil in market cap it doesn’t mean Apple will become a trillion dollar company.  ExxonMobil just happened to fade worse than Apple when the market took a hit.  I’m more interested in Apple becoming even a $450 a share stock rather than overtaking ExxonMobil by default.  Apple is making some serious quarterly revenue and yet the stock keeps falling and lagging further behind median target price so there isn’t that much as an Apple shareholder to actually cheer about.

  • John Neumann

    How is Dell stock doing? 

  • fahad khan

    Good Going Steve Jobs, It is time for you to call President for a Dinner and train him how to bring back the credit rating. It is Time for American Govt to borrow money from Apple inc

  • SbMobile

    I hope Apple stays being undervalued forever. It seems to be helping them.

  • twitter-218300945

    I hope they stick it to Exon. Oil, gas, so high when they are worth that much money then cry poverty. It hurts everyone of us, off topic? Probably.

About the author

Ed SutherlandEd Sutherland is a veteran technology journalist who first heard of Apple when they grew on trees, Yahoo was run out of a Stanford dorm and Google was an unknown upstart. Since then, Sutherland has covered the whole technology landscape, concentrating on tracking the trends and figuring out the finances of large (and small) technology companies.

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