It shouldn’t be a surprise that given that Apple’s stock has plummeted in the last couple days that it would no longer be the world’s most valuable company. Apple took the crown from Exxon in August of 2011 but stock losses this week ended that streak.
Bloomberg let the world know about the passing of the crown with this tweet:
BREAKING: Apples cedes place as most valuable company in the world to Exxon Mobil
— Bloomberg News (@BloombergNews) January 25, 2013
Today Apple’s market cap dropped to $413.7 billion, below Exxon Mobil’s $416.5 billion, but for how long?
Realistically, Apple is in great shape. Best quarterly results ever. Lots of cash in the bank. Best-selling products. Conventional wisdom would suggest that this is really just a blip for Apple in the long term. And by the sounds of it, Tim Cook isn’t worried.