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GOOGLE OVERTOOK US oil giant ExxonMobil today to become the world’s number two company when rated by market value, behind its high-tech rival Apple.
Even though Google shares fell 0.38 percent, a bigger drop in Exxon stock allowed the Internet giant to capture the second spot in market capitalisation.
Google’s market cap at the end of the trading day was $394 billion, compared to the $388 billion of ExxonMobil. Apple remained well ahead with a market capitalisation of $472 billion.
Google briefly overtook Exxon during the trading session last Friday but today was the first time this was confirmed at the close of trade.
ExxonMobil shares fell 1.17 percent to $89.53, bringing its year-to-date loss to 11.5 percent.
Google, despite today’s modest dip, is near its all-time high and has doubled in value since July 2012. The shares closed today at $1,172.93.
The California-based Internet group is the world leader in online advertising, its Android operating system has become the dominant platform for smartphones and is also gaining fast in tablet devices.
Google’s other projects include a self-driving car and its Google Glass eyewear. The company recently bought Nest Labs in what is seen as a move into connected home technology.
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This whole ‘world wide web’ business has fad written all over it
Says the man using the internet
Ooohhh Burn! Well done Tom he’ll need gauze for that one….
I feel bad for those who didn’t detect the sarcasm.
Best comment ever :)
Although I’m a tad grumpy that it caused me to spit coffee all over my screen
Surelookit
Lost.com/?
Gowl!!
Apple will, excuse the pun, fall soon. Facebook are on the way down, if anyone has shares in either now is the time to sell.
Google are solid enough reason being that they can just hoover up any company they want.
The Macbook pro retina will be equaled or surpassed this year, as will other apple products, a 15″ macbook is over €2000, Samsung will have a cheaper equivalent or better by September.
To be fair Apples success has never been about being better or cheaper. Mostly it’s been marketing and innovation. They have massive cash reserves and like Google can buy up any business wants. Can’t see them going anywhere soon!
If they split there shares in the morning then Google would be nearly twice apples shares worth over 600 billion. But I think they are pissing too many people off so they might have to be split into a number of divisions because of competition rules. But no one seems to have the balls to tackle them.
Agree with Aus, you don’t get why Apple is a huge success, not for cheap mass market electronics. Going nowhere.
Splitting shares doesn’t increase the MV. You must have done a equity markets course with Anglo Irish Bank!!
That would be the problem as far as making investing in Apple a good long term prospect (at it’s current MV), it’s market value (and commercial success) is not based on anything as tangible as producing the best or the cheapest products, it’s basically about being a brand which is seen to be, for want of a better word “cool”. This concept of “cool” sells big but ultimately has a shelf life, and is incredibly unstable. However Apple does still produce some pretty good products, the new Mac pro is pretty impressive, but this is not enough to justify it’s current market value and while as a company it has managed to keep it’s cool factor alive for a long period of time thus far, it does appear to be fading and I personally wouldn’t put my money anywhere near there shares at this present time.
That’s a lot of money
Giz a few quid ye?
#googleit
Fad my arse. The Internet is most probably the greatest and powerful invention in human history along with the wheel and the gun. Something is not a fad if every person in the developed world hands over well earned money every month to access it. It is a necessity
‘A sarcasm detector, well that’s a REAL useful invention’
And badly needed around here!!
Jail breaked an iPhone today. The stuff you can get on the Internet is just unreal.
Capitalism isnt it great .
.. greed greed and millions starving and dying. What a wonderful world we live in.
Fantastic company that has made me millions :)
In the words of a great man “Google is the only real virus on the internet”
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