Exxon passes Apple as most valuable company
NEW YORK (AP) — Exxon has once again surpassed Apple as the world's most valuable company after the iPhone and iPad maker saw its stock price falter.
Apple Inc.'s stock has been on the decline since the company's quarterly earnings report Wednesday suggested that its fast growth phase, rare for a company of its size, may be coming to an end.
Apple's stock fell 2.4 percent to close Friday at $439.88 for a market capitalization of $413 billion. That followed a 12 percent drop on Thursday, the biggest one-day percentage drop for the company since 2008.
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