Tip UsLast night Apple surpassed Exxon to became the world’s biggest business.
Rising shares in Apple meant the tech company passed oil company Exxon Mobil to be valued at $341.5 Billion (£209 Billion). At the time Exxon had dropped behind Apple and was valued at $340 Billion.
The change was only brief however. Exxon quickly regained it’s position ahead of Apple to be valued at $352.9bn, with Apple valued at $346.7bn. Apple however have caught up by $50bn in less than a month, which suggests it won’t be too long before they take back the title of world’s biggest business.
Brent Hoberman, the founder of Lastminute.com, said: “It’s creativity supplanting bulk and brawn.”
Exxon, which trades as Esso in the UK, bring in four times as much revenue compared to Apple. However experts believe given the statistics Apple could become the world’s first $1 Trillion business.
Amazing considering this was once a company who was in danger of going out of business, until founder and former chief exec Steve Jobs returned.
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