ExxonMobil held the title of the world’s most valuable publicly traded company before Apple overtook it in 2011.
Apple surpassed ExxonMobil by market capitalization in August 2011. ExxonMobil had long been the leading public company by market value because of its global oil and gas operations, enormous revenues, and exposure to energy prices.
Apple’s rise reflected the success of the iPod, iPhone, and expanding Mac business. The transition marked a symbolic shift in investor focus from traditional energy companies toward consumer technology and digital products.
Market-capitalization leadership can change even when a company remains highly profitable. It depends on both earnings expectations and the prices investors are willing to pay for shares. ExxonMobil continued to rank among the world’s largest companies after losing the top position.