In January of 2009, ExxonMobil posted an annual profit of $45.22 billion, the largest in U.S. history, and became the most valuable company in America. It's been tough sledding for the oil business since then. Exxon has long been passed as the largest stock by Apple and this past February, Apple became twice as valuable as Exxon, which was still the next-biggest publicly held U.S. company.
And now, with the continuing struggles of the oil industry, the Wall Street Journal points out a further indignity: Apple’s market cap on Monday surpassed the combined total of Exxon, Chevron and Wal-Mart. As of Monday’s close, Apple was valued at $657.6 billion, versus $650.8 billion combined for Exxon ($302.2 billion), Wal-Mart ($206.1 billion) and Chevron ($142.5 billion).
Combined, the latter trio have lost nearly $200 billion in market value since early May. Exxon now ranks fifth in market cap among U.S.-listed firms, Wal-Mart is 12th and Chevron is roughly 25th. The current runner-up to Apple? Google.
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