Google, which became the world’s largest online advertiser through its dominant search engine, had a higher market capitalization during intraday trading today before falling back at the close in New York to a value of $395.4 billion compared to Exxon’s $395.7 billion, according to data compiled by Bloomberg. Apple had a market value of $463.5 billion. Software company Microsoft Corp. is No. 4 with $303.5 billion.
Technology companies are establishing themselves as key players worldwide as they disrupt industries from retail to finance. Google, which went public in 2004 — 84 years after Exxon — has benefited from consumers moving to online services and content, a trend that’s being accelerated by the growing popularity of smartphones and tablets.
I suspect we’ll see quite a few more tech companies ahead of Exxon in the coming years. Progress.