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Apple Takes a Bite Out of Big Oil

| August 9, 2011
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For the first time today, Apple Computer topped Exxon Mobil in market value. The tech giant slipped back to second soon after, though. This from the Washington Post:

The market value of the consumer electronics giant was $50 billion away from overtaking that of the oil titan when it reported yet another quarter of record-breaking earnings on July 19.

The changing of the guard is due in part to a market slowdown that has depressed oil prices and taken Exxon Mobil stock down significantly. But the switch is also a testament to Appleā€™s gravity-defying growth

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About the Author ()

Rachel Dornhelm got her start in radio at WHYY. After anthropology graduate school, Rachel lived in Uzbekistan working with youth near the drying Aral Sea. Rachel returned to radio full-time in 2001. Her work has appeared on WNYC, WBUR, Marketplace, NPR news magazines and KQED. Reach Rachel Dornhelm at rdornhelm@kqed.org.

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