NEW YORK (AP) — Google has passed Exxon to become the second most valuable U.S. company by market
capitalization.
According
to FactSet data, the Internet company’s market capitalization surpassed
that of oil company Exxon Mobil Corp. last week. As of Friday’s market
close, it sat at $395.42 billion compared with the oil company’s $392.66
billion.
Shares of Google Inc. have been on a steady climb since the beginning of 2013, gaining 66 percent.
Market capitalization is the number of outstanding shares multiplied by their value.
Meanwhile, Exxon’s have risen just 5 percent. Since the beginning of this year, they’ve lost about 10
percent of their value.
Both companies trail Apple Inc.’s market capitalization of $463.55 billion.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
NEW YORK (AP) — Google has passed Exxon to become the second most valuable U.S. company by market
capitalization.
According
to FactSet data, the Internet company’s market capitalization surpassed
that of oil company Exxon Mobil Corp. last week. As of Friday’s market
close, it sat at $395.42 billion compared with the oil company’s $392.66
billion.
Shares of Google Inc. have been on a steady climb since the beginning of 2013, gaining 66 percent.
Market capitalization is the number of outstanding shares multiplied by their value.
Meanwhile, Exxon’s have risen just 5 percent. Since the beginning of this year, they’ve lost about 10
percent of their value.
Both companies trail Apple Inc.’s market capitalization of $463.55 billion.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.