Apple Loses Title of Most Valuable Company to Exxon

In August 2011, Apple briefly surpassed Exxon Mobil to become the most valuable public company in the world for the first time. Back then it was a sensation: Apple, a maker of electronic gadgets was suddenly more valuable then the world's largest oil company. Exxon quickly regained the top spot and held on to it for the most part of the remainder of 2011.

In January 2012, Apple's market cap surpassed that of Exxon again and this time Apple’s stock price continued to soar. In September, Apple's market cap briefly climbed to more than $650 billion, exceeding the market value of Exxon by more than $200 billion.

In late September however, Apple's ascent suddenly came to an end. Since then, Apple's stock price dropped 40 percent, shaving more than $250 billion off the company's market cap. On March 4, Apple's stock hit a 12-months low, closing at $420.05. Meanwhile Exxon regained the title of most valuable company in the world. And the way things are going for Apple, Exxon looks set to keep the title for a while now.