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?
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.