Apple loses world’s most valuable company crown

Apple shares extended their losses on Friday, ending a miserable week for the California tech giant as it surrendered its position as the world’s biggest company based on market value.

Apple ended down 2.36 per cent at US$439.88, giving it a market capitalisation of US$413 billion, while oil giant ExxonMobil rose 0.36 per cent to US$91.68 with a market cap of US$418 billion to edge into first place.

Apple first overtook ExxonMobil in August 2011 as the most valuable company in the world based on the value of its stock.

via Business feed http://www.scmp.com/business/article/1136595/apple-loses-worlds-most-valuable-company-crown