Apple passes Exxon as most valuable US company

[xchrom]

http://hosted.ap.org/dynamic/stories/U/US_APPLE_VALUE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-08-09-15-00-39

NEW YORK (AP) -- Apple has surpassed Exxon Mobil as the most valuable company in the U.S. The milestone occurred shortly before 2 p.m. Tuesday. Apple Inc.'s stock gained 3.4 percent to $365.10 Tuesday afternoon, bringing the iPhone and iPad maker's market capitalization to about $338 billion.

Exxon Mobil Corp. shares, meanwhile, were trading at $69.23, down 1.4 percent. That gives the oil company a market cap of $337 billion.

Other big-name corporations, such as Wal-Mart Stores Inc. and General Electric Co., don't even come close.

Exxon, which set a record in 2008 for the highest quarterly earnings by any company, has limited growth prospects. Its growth is driven by oil prices and discovering new oil.

[DonCoquixote]

1. apple beat Walmart?

OMG. Not that apple does not have some of it's own shady practices, but it is nice that a company that focuses on design is the biggest.