Showing 8 posts tagged exxon
Remember when people (including yours truly) were wondering when (if ever) Apple would pass Exxon as the most valuable public company in the world?
Apple’s share price has passed Google’s at $632-a-share. Share prices are basically meaningless since the number of shares outstanding differ (Apple has nearly 3x the number of shares out there, and as such, nearly 3x the valuation). But the numbers are interesting in historical context. They show what a ride Apple has been on (while Google has remained relatively static).
When Google went public in 2004 and their stock immediately popped over $100-a-share, Apple’s stock was trading around $15-a-share. When Google’s stock hit $500-a-share in November 2006, Apple’s stock was around $85-a-share. When Google shares peaked in late 2007 over $700-a-share and people were wondering if the stock was the next Berkshire Hathaway (up, up and away!), Apples stock was around $150-a-share.
With the price and the number of shares outstanding, Apple’s valuation is now approaching $600 billion. The next closest company in terms of valuation is Exxon. Their market cap is $400 billion. The nearest tech company is Microsoft. Their market cap is $265 billion.
Well, it lasted for a few hours, then Exxon had a massive rally at the end of the day to close just ahead of Apple again.
Still, considering what Apple is planning for this fall, I fully expect them to gain and hold the title for some time.
This change moved Apple to just $25 billion away from being the most valuable public company in the world.
Two days ago, I wrote this story on TechCrunch predicting that Apple could overtake Exxon this fall as the most valuable public company in the world.
It got about a billion pageviews, was all over Techmeme, Twitter, Facebook, Google+, etc. Everyone read it. Most of the commenters called me insane, but well, they’re commenters.
Anyway, fast-forward to today.
Now, am I really to believe that neither of these publications read my post two days ago? (Naturally, there are no links, or this wouldn’t be brought up.) That they independently were tracking and came up with the same idea? Market Cap isn’t a hugely popular thing to watch in our space, it’s just one of those things I’ve obsessed over for a while because I knew it would be interesting to watch over time for contextual purposes. Like this.
Worse, Apple isn’t even really within $50 billion of Exxon yet, they’re still about $55 billion away. So it’s odd that both would jump the gun and push out the post for a milestone that actually hasn’t happened. Unless they had read my story two days before and were tracking the numbers due to that, including the after-hours numbers.
Perhaps it was the part where I suggested that after Apple announced their Q3 earnings (which was the following day — yesterday), the gap with Exxon should close quickly.
I’m sure I’m just being paranoid and that this isn’t yet more jackassery in the blogosphere.
Update: Make it Deja Three.
AllThingsD: Apple Could Eclipse Exxon in Market Cap
The post cites an analyst thinking along these lines. It should cite “an analyst that reads TechCrunch” or just “TechCrunch”.
Update 2: Make it Deja Four.
Electronista (which rarely seems to have its own articles/ideas): Apple poised to beat Exxon Mobil in market cap
Remember all that talk of the stock flatlining? You should, it was just a month ago.
Fast forward to today, and while nothing has really changed, there’s a market cap quickly approaching $350 billion. Meanwhile, Exxon, the most valuable (public) company in the world has been stalling around the $400 billion market cap number…
Apple earnings are tomorrow.