Exxon Mobil dethrones Apple as world’s most valuable company

Apple (AAPL) has lost its title as the word’s most valuable company to Exxon Mobil (XOM) only a year after it reached the milestone. Despite reporting strong earnings this week, expectations are high for the company and its guidance has Wall Street investors worried. Shares of Apple have been hit hard in recent weeks and have continued to fall to a 12-month low. On Friday, the company’s market cap fell below $416 billion, giving Exxon Mobil the title of world’s most valuable company once again. As of publication, Apple is currently trading down more than 2% at $441.36 a share with a market cap of $414.26 billion.

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This article was originally published on BGR.com