Apple was the first company to surpass ExxonMobil as the world’s most valuable publicly traded company in 2011.
Apple overtook ExxonMobil by market capitalization in August 2011. The shift marked a major change in the identity of the global market leader, from a dominant oil producer to a consumer-technology company.
Apple’s rise was driven by the success of the iPhone, introduced in 2007, along with the iPod, Mac, and growing App Store ecosystem. ExxonMobil had long held the top position because of its scale and exposure to the global oil industry.
Market-cap rankings can change quickly because they are based on share prices. Apple and ExxonMobil later exchanged positions at times, but the 2011 transition remains an important milestone in the history of the world’s richest listed companies.