Apple Looses Value

I was surprised by the news this morning that Apple is no longer the most valuable company in the world. The most valuable company in the world today is Exxon Mobil. According to BBC News The iPhone-maker’s stock fell 2.4% to $439 a share for a market value of $413bn (£261bn). Exxon’s value is currently around $418bn. Its shares have fallen almost 40% since hitting a record $702 in September.The tech giant has been hit by fears over its future growth, despite record profits.The firm said late on Wednesday it had sold more iPhones (47.8 million) and iPads (22.9 million) in the final three months of last year than in any previous quarter, but investors had expected yet more.On Thursday, about $50bn was wiped off Apple’s value after the biggest daily drop in the firm’s stock in four years.” Apple has been hit by a mix of strong competition by other mobile companies and fear about its continual growth. The pressure on apple to continue remarkable revenue growth will continue to increase.  I am not surprised Exxon Mobile has overtaken Apple. The world needs energy resources to run now more than ever in other to meed the demands of china.  Click here to read the full article.

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