Exxon overtakes Apple as ‘most valuable company’January 26, 2013 - 09:55 AMT PanARMENIAN.Net - The stock value of Apple has continued sliding these past few days following lackluster financials for Q4 2012, with the tech giant losing the "most valuable company" title to Exxon Mobil, Neowin reports. Way back in August 2011, Apple took the crown from Exxon briefly, before cementing the position in the following days and months; they even reached a record share price of $700 in September 2012. Now the share price for Apple sits at just $439.88 after falling 2.36% in the day's trading, bringing the market capitalization down to $413.04 billion. Meanwhile, Exxon Mobil's relatively steady stock price rose today to $91.73, bringing their market cap to $418.23 billion, higher than Apple's for the first time in years. Due to this change, Exxon Mobil now steals the crown of the most valuable company back from Apple. Apple's stock price is now at the lowest value since January 24, 2012, effectively wiping away all the gains they had made for 2012. With increasing market competition and innovation, especially from the likes of Android and Samsung's Galaxy range, Apple is losing the edge they once held, Neowin says. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Greece says ready to help as Armenia fights flooding consequences Greece is ready to assist Armenia in combatting the consequences of deadly floods in the country’s north. “He will leave”: Protest leader no longer demands meeting with Pashinyan Archbishop Bagrat Galstanyan no longer demands a meeting with Armenian Prime Minister Nikol Pashinyan. Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. Armenian Catholicos calls for national unity against threats Karekin II issued a message on Republic Day marking the anniversary of the First Armenian Republic. |