Apple Was Briefly the Most Valuable Publicly Traded Company

By , Aug 9, 2011

In an interview with Edge Magazine, EA founder Trip Hawkins commented that Apple would soon see its downfall. He noted that it wasn’t necessarily Apple’s own fault, but that history has taught us how peaking empires always falter.

Hawkins was right about one thing: Apple has peaked. Not in terms of innovation or profit, but for a brief moment Apple was the most valuable publicly traded company on the market…

After announcing another record-breaking quarter last month, the tech industry noted that Apple had moved into the second spot on the list of most valuable companies in the world. They were $50 billion dollars shy of ExxonMobil.

Today, as noted by MacRumors and others, Apple briefly overtook Exxon as the number one company by market cap. No, Apple didn’t rocket up in price, they just didn’t sustain the losses that other companies did during the market’s recent downturn.

As of this writing, Exxon is back on top, but there have been multiple lead changes. Now that they’ve sat at the top, the question is how do they get back up there. For good? I guess we’ll find out more this Fall.

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  • BuyStockWhileItsCheap

    Let’s put it this way….I dumped my “bank” shares (they got plenty of $$ from bailouts, and were doing me NO favors in the markets, OR on the homefront, regardless), and bought myself one little bitty Apple. Like you said, it’s holding it’s own, and I believe it will for the long term. At $367 a share, buying 1 share was tough….but I believe worth it. Food storage is in…haven’t you heard? ;)

    • http://www.idownloadblog.com Sebastien

      You know another stock that’s working out well for me? Baidu! BIDU
      Check it out ;)

      • BuyStockWhileItsCheap

        Wow – looks like I need to do some research. Thanks! I’ll check it out. :D

  • MrA

    Update: back on top again.

  • BuyStockWhileItsCheap

    Hope you guys bought your AAPL while it was low…it’s cruisin’ along right now. :D

  • beakhand

    When did u get into baidu sebastien was told about it two years ago but never bit