Apple Takes a Bite Out of Big Oil
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 Apple’s gravity-defying growth