Microsoft Passes ExxonMobil to Become Second Largest US Firm
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I see that the fruity firm is still up top.
Whilst that doesn't supprise me, the massive gap between first and second places certainly does. -
That is definitely a huge gap. Although market cap is misleading. It is only the value that Wall St. has in the company. It does not reflect revenue, market position, cash or any other solid factor. It's a financial popularity contest and just like how Microsoft rose and ExxonMobil fell suddenly, Apple could go from $600bn to $300bn in a day.
Ubisoft lost nearly 13% of their market cap in one day, two days ago, due to issues with the release of Unity. Imagine what would happen with one failed iPad release or a major bug in OSX. Apple could practically evaporate overnight.
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@scottalanmiller said:
Imagine what would happen with one failed iPad release or a major bug in OSX. Apple could practically evaporate overnight.
Well the stock price would, but not the company. The reports are always that they have a huge cash reserve.
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@JaredBusch said:
Well the stock price would, but not the company. The reports are always that they have a huge cash reserve.
True, their cash reserves are huge and those don't change. It's the market cap that can rise and fall with no connection to real life.
