NEW YORK – The recent nose dive of Apple’s stock made the company lose its ‘most valuable company’ title.
NDJ World | Published: Jan 25 2013 High Tech→Lifestyle
Exxon Mobil, which use to own that title based on stock value, is now once again the ‘most valuable company’ on the stock market.
Apple has already lost 18 percent of its stock value this year and analysts are painting a somber picture projecting Apple’s future growth.
The maker of the iPhone, iPad and iPod has seen its market value decline to 413.7 billion dollars, enough of a drop for Exxon Mobil to take over the lead again with a market value of 416.5 billion dollars.
Apple grew last year to the ‘most valuable company’ in stock market history ever with company stock selling at a record high of $US700 per share.
After 1 year of being the No 1 company in the world, Apple also got the record of being the company with the biggest loss in shares value in the Standard & Poor’s 500 Index.
The company’s shares have fallen by 37 percent from its record in September amid concern that mounting costs and competition may curtail growth.
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