Following the news that Apple has more cash on hand than the US government, it’s just been announced that Apple has surpassed ExxonMobil to become the world’s most valuable publicly traded company.
Apple’s reign didn’t last that long, as Business Insider is reporting that Exxon is now back on top.
Apple reached $341.55 billion in valuation today, but Exxon quickly caught back up. Both companies’ stock is fluctuating, and it’s worth noting that the stock market has dropped significantly in the last couple weeks. The AAPL and XOM aren’t doing well in light of the current economy.
Still, Apple briefly sat on top. And who knows, the stock could fluctuate in Apple’s favor again. Keep in mind that these valuations are based off completely theoretical value.