Apple briefly eclipsing Exxon Mobil as most valuable corp.
updated 02:30 pm EDT, Tue August 9, 2011
Apple still dwarfed in terms of revenue
Apple is currently flirting with a position as the most valuable corporation in the world, periodically exchanging positions with Exxon Mobil, according to Reuters. At one point on Tuesday Apple's market capitalization was tracked at $341.5 billion, versus Exxon's $341.4 billion. Although Exxon has slipped back ahead from time to time, Apple remains in the lead as of this writing at $338.66 billion versus Exxon's $336.6 billion.
Market cap is not a reflection of a corporation's actual size however, and can fluctuate dramatically based on share value. Oil giant Exxon has roughly four times Apple's annual revenue. The relative size of Apple's cap is based in part on expectations of Apple's potential, and also on the turbulent economic situation, which was thrown out of balance after Standard & Poor's downgraded the US' credit rating on Friday.
