The American oil giant Exxon Mobil passed Apple today for the title of the world’s most valuable company, as Apple stock prices fell to a 16 week low.
Exxon Mobil’s market cap hit over $388 billion today, while Apple’s market cap was just over $368 billion. Apple’s stock has continuously fallen since the launch of the iPhone 5 back in September, which then saw the stock sit at $700 per share. Since then, Apple’s stock has slid to its current spot at $392 per share.
While Exxon Mobil and Apple have exchanged places for the most valuable company multiple times, Apple should remain concerned at how low its company’s stock is at. The Cupertino based company is expected to announce a number of updated as well as brand new products in the coming months, however, which should certainly give a boost to the fallen figures.
If you think that Tim Cook will be able to lead his company through successful launches of rumored products like the iWatch and iTV, perhaps now would be a good time to invest.
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