Apple Passes Exxon to Become World's Most Valuable Company

Apple Passes Exxon to Become World’s Most Valuable Company

Even though most of the country is going through some tough economic times at the moment, the fine folks at Apple (and its shareholders) are literally laughing all the way to the bank. Why? Well, as of market close on Wednesday, Apple’s market capitalization is $337.17 Billion. Yes, you read that right.

That market cap is $6 Billion higher than Exxon Mobile, which ended the day at $330.77 Billion. This development currently makes Apple the most valuable company in the world. Although, with the nature of the market these days, both companies will likely trade the number one spot in the days to come.

This news is pretty impressive considering Apple was on the verge of bankruptcy less than 20 years ago. The company, thanks in large part to the return of Stave Jobs and some truly innovative and amazing products, has surely rebounded and come out on top in spite of the naysayers who predicted its demise back then.

Apple is expected to launch new iPhone and iPad models this fall which will undoubtedly only help the company continue to dominiate. I, for one, can’t to see what happens over the next 20 years.