{"id":640104,"date":"2013-01-25T12:55:40","date_gmt":"2013-01-25T17:55:40","guid":{"rendered":"http:\/\/gigaom.com\/?p=604490"},"modified":"2013-01-25T12:55:40","modified_gmt":"2013-01-25T17:55:40","slug":"after-stock-slide-apple-no-longer-worlds-most-valuable-public-company","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/640104","title":{"rendered":"After stock slide, Apple no longer world\u2019s most valuable public company"},"content":{"rendered":"

As investors continue to punish Apple stock — even after the company posted its best revenues and profits ever on Wednesday — Apple’s run as the world’s most valuable publicly held company has come to an end. Exxon Mobil’s market cap hit $416.1 billion Friday morning, as Apple’s slipped to $414.7 billion. It’s not a surprise to those watching Apple’s stock the last few days. The symbolism, however, is bigger than Apple: it’s significant that a tech company is no longer perched atop the business world.<\/p>\n

This is the first time Apple and Exxon have switched places since last January, when Apple overtook the oil company in market capitalization<\/a>.<\/p>\n

But Apple shares have been on a rollercoaster since September when they hit their peak at $702.10. This week Apple’s stock has dropped precipitously after posting its highest-ever revenues ($54 billion) and profits ($13 billion) <\/a>and all-time best iPhone and iPad sales of 48 million and 22 million, respectively, during its fiscal first quarter of 2013. Shares are currently valued below $440, after being priced above $510 going into earnings on Wednesday.<\/p>\n

Investors are deeply worried that Apple’s profits are no longer growing as fast as they once were and fear Apple is losing ground too fast<\/a> to competitors like Samsung in both smartphones and tablets. Apple CEO Tim Cook used his time on the company’s earnings call this week to try to instill confidence into analysts<\/a> that the company’s future is bright and that Apple knows what it’s doing when it comes to making products people will buy and pricing them appropriately and that it has a product pipeline that is “chock-full” of innovative ideas. Thus far, however, his speech does not appear to have had the calming effect he intended.<\/p>\n

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As investors continue to punish Apple stock — even after the company posted its best revenues and profits ever on Wednesday — Apple’s run as the world’s most valuable publicly held company has come to an end. Exxon Mobil’s market cap hit $416.1 billion Friday morning, as Apple’s slipped to $414.7 billion. It’s not a […]<\/p>\n","protected":false},"author":7420,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-640104","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/640104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7420"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=640104"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/640104\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=640104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=640104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=640104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}