Following yesterday’s stock market crash and today’s rally, Apple has surpassed Exxon as the most valuable company in the world, TechCrunch reports.
The companies have been in a back-and-forth all day, with Apple briefly surging ahead this morning before Exxon reclaimed the top spot. As of around 1:30 afternoon, Apple was ahead again, with the two companies separated by only $500 million – three weeks ago, the two had been a full $60 billion apart.
Both companies were hit hard yesterday, but Apple fared better than Exxon, whose share price dropped to $70 from $85 just three weeks earlier. And while Exxon’s stock remained down, Apple’s managed to rally.
Update: A late surge brings Exxon back into the top spot, closing the trading day at a $348.3 billion, to Apple's $346.7 billion.