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August 9, 2011 / David Bleeker

Apple briefly passes Exxon as world’s largest company by market cap

During a volatile day of trading on Tuesday, Apple briefly passed oil giant Exxon Mobil to become the most valuable company in the world, in terms of market capitalization.

AAPL stock closed the day below XOM with a market cap of $346.74 billion, pushed 5.45 percent higher by a 19.26-point increase in the stock price. Apple ended the day trading at $372.47 per share.

Exxon finished Tuesday retaining its title as the largest company in the world by market cap, a claim it briefly lost during trading on Tuesday. Exxon finished the day with a market cap of $352 billion, its stock having recovered from losses to go up $1.41 for the day, or 2.01 percent.

Apple’s brief stay at the top on Tuesday came faster than most expected. The iPhone maker was separated from Exxon by about $70 billion only a few weeks ago. [read more]

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