Apple 2.0

Covering the business that Steve Jobs built

Apple overtakes Exxon. Most valuable company once again.

August 2, 2013: 6:40 AM ET

Was Apple's $56 July surge a dead cat bounce, or is Cupertino on the comeback trail?

Source: MarketWatch

Link: MarketWatch

Screen Shot 2013-08-02 at 6.30.27 AMFORTUNE -- Two years after it first took the crown from Exxon Mobil (XOM), Apple (AAPL) on Thursday reclaimed its title.

It is once again the world's most valuable company by market capitalization (share price times number of shares outstanding).

Apple's market cap was boosted by a $56 (14%) surge in July, a gain that was softened by a stock repurchase plan that reduced its number of outstanding shares in fiscal Q3 by 23.5 million.

Exxon was hurt by falling oil prices and a disappointing earnings report.

The two companies have changed leads many times before. See here, here, here, here, and here,

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About This Author
Philip Elmer-Dewitt
Philip Elmer-DeWitt
Editor, Apple 2.0, Fortune

Philip Elmer-DeWitt has been following Apple since 1982, first for Time Magazine, and now on the Web for Fortune.com.

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