Tags: Google | Exxon | Market | Value

Google Supplants Exxon as No. 2 in Market Value

Monday, 10 Feb 2014 05:13 PM

Google overtook U.S. oil giant ExxonMobil on Monday to become the world's number two company when rated by market value, behind its high-tech rival Apple.

Even though Google shares fell $4.51, or 0.38 percent, to $1,172.93, a bigger drop in Exxon stock allowed the Internet giant to capture the second spot in market capitalization. Exxon ended down $1.06, or 1.2 percent, at $89.52.

Google's market cap at the end of the trading day was $394 billion, compared with $388 billion for ExxonMobil. Apple remained well ahead, with a market capitalization of $472 billion.

Google briefly overtook Exxon during Friday's trading session,y but Monday was the first time this was confirmed at the close of trade.

ExxonMobil shares have fallen 11.5 percent so far this year.

Google, despite Monday's modest dip, is near its all-time high and has doubled in value since July 2012.

The California-based Internet group is the world leader in online advertising, and its Android operating system has become the dominant platform for smartphones and is also gaining fast in tablet devices.

Google's other projects include a self-driving car and its Google Glass eyewear. The company recently bought Nest Labs in what is seen as a move into connected home technology.

© AFP 2017

   
1Like our page
2Share
InvestingAnalysis
Google overtook U.S. oil giant ExxonMobil on Monday to become the world's number two company when rated by market value, behind its high-tech rival Apple.
Google,Exxon,Market,Value
203
2014-13-10
Monday, 10 Feb 2014 05:13 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved