Could Apple displace Exxon on the top of the Standard and Poor’s 500? That’s the opinion of one analyst who believes the Cupertino, Calif. company may overtake history’s largest corporation in terms of market capitalization as soon as October 18, when it reports earnings.
Unless Exxon shares rise, Apple will likely gain 12 percent to make up the $60 billion difference, according to Brian Marshall, analyst with Gleacher & Company. The move will mark only the second time a tech company takes first place on the S&P 500. Microsoft, which briefly held the top spot in the 1990s before falling to second place on the S&P, was overtaken by Apple in May.