Apple Most Valuable U.S. Company on Stock Market as Thursday Trading Starts
NEW YORK - Tech giant Apple opened Thursday's stock market trading session as the most valuable U.S. company after it managed to close ahead of oil conglomerate Exxon Mobile for the first time on Wednesday.
Apple's market value as of Wednesday's close stood at $337.2 billion, compared with Exxon's $330.8 billion.
The market capitalization of Apple, led by CEO Steve Jobs, had briefly overtaken Exxon's in Tuesday trading, but the oil company had ended that trading day ahead.
Shortly after the opening of Thursday's stock market session, Apple stayed ahead of Exxon as its shares were up 2.8 percent, while the oil company's stock was up 2.5 percent.
While the recent stock market turmoil has pushed the stocks of several entertainment conglomerates below their 2010 closing prices, Apple's Wednesday close of $363.69 compares to its 2010 finish of $322.56. That is up 12.8 percent.