Skip to main content

Apple now more than double the size of closest rival Exxon Mobil

If I had a time machine right now, and could only use it one time, I don't think I'd go and try to stop World War II. I'd go back and buy Apple stocks.

As The Wall Street Journal reported (opens in new tab)on Monday, Apple is now more than double the size of the world's second largest company, Exxon Mobil.

The iPhone-maker's stock rose another 2.7 per cent on Monday, to $133 (£86.2), thanks to the incredible sales of the company’s latest smartphone model, the iPhone 6.

At the same time, due to the recent drop in oil prices, Exxon Mobil’s shares dropped one per cent to $89.01, shrinking the company’s market cap to $374 billion (£243 billion).

This turn of events has enabled Apple - currently worth $765 billion (£496 billion) - to officially become more than twice as valuable as its closest rival.

According to the Wall Street Journal, it has been 30 years since the world’s largest publically listed company was valued at more than twice as much as its closest competitor.

And back then, in the early 80’s, it was IBM who managed to extend its valuation gap over Exxon by 140 per cent.

An interesting link here is that in both cases – it was Exxon, the oil company, who was the second largest in the world. And even though IBM transformed and dropped down the list over the years, Exxon has remained at the very top.

However, the oil giants won’t see Apple’s demise so fast - the company’s big new product is yet to be released.

The Apple Watch, a smartwatch set to turn that type of gadgets mainstream – is expected in April 2015.

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.