Getting your player ready...
NEW YORK — Apple briefly surpassed Ex xon Mobil on Tuesday as the nation’s most valuable company. The iPhone and iPad maker had the lead for much of the afternoon before its stock closed just behind Exxon’s.
Apple stock gained 5.9 percent to $374.01, bringing its market capitalization to about $347 billion. Exxon Mobil shares, meanwhile, closed up 2.1 percent at $71.64 for a market cap of $348 billion.
Does this mean people need iPads more than oil?
“Exxon obviously sells a product that people need. Apple sells a product that people want,” analyst Brian Marshall of Gleacher & Co. said. The Associated Press
