Apple became the world’s most valuable company by market capitalization in 2011 after surpassing ExxonMobil.
Apple overtook ExxonMobil during August 2011 as investors continued to respond to the success of the iPhone and iPad. The shift symbolized a broader change in the stock market: technology and consumer-electronics companies were becoming more valuable than traditional oil majors. Apple’s market value then moved above ExxonMobil’s as share prices fluctuated.
This ranking measures equity value, not revenue, assets, employees, or physical resources. ExxonMobil remained one of the largest companies in the world by sales and energy production, while Apple’s valuation depended heavily on expectations for future consumer demand and profit. Apple’s rise also followed the return of co-founder Steve Jobs as chief executive in 1997 and the company’s later expansion into integrated hardware and software.