Just when we thought Apple could become the first trillion dollar Company, the recent market caps have suggested that Apple is struggling even to touch the 500 billion dollar mark.
For the first time in ages, the company’s market cap has fallen below the 400 billion dollar mark. According to a few reports, the Cupertino stock has been quivering ever since the release of the fifth generation iPhone. Apple now no longer seems to be Wall Street’s darling.
Monday showed that the company’s stock declined by more than 1%. This is because of court’s ruling that has deducted Apple’s 1 dollar billion victory in nearly half over the case of patent infringement with Samsung. The stock continued to decline even though shipping times seems more favourable for iMac.
Tim Cook, the Apple CEO has confirmed the news of company’s dwindling stock. But he has assured the investors that he is looking forward to new projects under new categories. No further information about these new products has been revealed so far.
Even though the company posted a record breaking financial result for Q1, 2013, Apple’s stock spoke otherwise. The drop in market was so severe that it resulted in Exxon Mobil surpassing Apple’s market cap value, to become Wall Street’s favorite company once again. Apple’s market cap is currently at 413.06 billion against that of Exxon’s 418.23 billion. Apple held the leader position since August 2011, but now it has to give it back to the petrol giant.
Irrespective of the recent declines, Apple’s market status is still way ahead of Google. The current market cap for Google is about 270 billion dollars. Google is nearly followed by Microsoft which has a market cap of just more than $230 billion.
Let’s hope that Apple is able to regain it’s position back on top. Surpassing all, we would only like it to become the first trillion dollar company.
All luck for Apple!