Apple briefly surpassed Exxon Mobil as the most valuable company in the U.S. Apple’s stock gained 3.2% at one point to reach $364.60 this afternoon, bringing the iPhone and iPad maker’s market capitalization to about $338.0 billion. Exxon Mobil Corp. shares, meanwhile, were trading at $69.45, down nearly 1%. That gives the oil company a market cap of $337.7 billion. Other big-name corporations, such as Wal-Mart Stores and General Electric, don’t even come close. Apple has been on a roll with the soaring popularity of its iPad tablet computer and the strong sales of the iPhone. Investors expect Apple to grow as long as it keeps making products that people want. Exxon has limited growth prospects. Its growth is driven by fluctuating oil prices and new discoveries of oil. But by the end of trading, Exxon posted a 2% gain, to close with a market cap of $348.3 billion, while Apple was up 6%, to close at $346.7 billion.
Apple briefly passes Exxon as most valuable U.S. company
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