Movin’ on up ... Google has surpassed Exxon Mobil to become the second most valuable company in the US behind Apple. Source: AFP
GOOGLE has passed Exxon to become the second most valuable US company by market capitalisation.
According to FactSet data, the internet company’s market capitalisation surpassed that of oil company Exxon Mobil Corp. last week. As of Friday’s market close, it sat at $US395.42 billion compared with the oil company’s $US392.66 billion.
Shares of Google Inc. have been on a steady climb since the beginning of 2013, gaining 66 per cent.
Market capitalisation is the number of outstanding shares multiplied by their value.
Meanwhile, Exxon’s have risen just 5 per cent.
Since the beginning of this year, they’ve lost about 10 per cent of their value.
Both companies trail Apple Inc.’s market capitalisation of $US463.55 billion.
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