Google becomes number two in market value
New York: Google overtook US oil giant ExxonMobil on Monday to become the world`s number two company when rated by market value, behind its high-tech rival Apple.
Even though Google shares fell 0.38 percent, a bigger drop in Exxon stock allowed the Internet giant to capture the second spot in market capitalization.
Google`s market cap at the end of the trading day was $394 billion, compared to the $388 billion of ExxonMobil. Apple remained well ahead with a market capitalization of $472 billion.
Google briefly overtook Exxon during the trading session last Friday but Monday was the first time this was confirmed at the close of trade.
ExxonMobil shares fell 1.17 percent on Monday to $89.53, bringing its year-to-date loss to 11.5 percent.
Google, despite Monday`s modest dip, is near its all-time high and has doubled in value since July 2012. The shares closed Monday at $1,172.93.
The California-based Internet group is the world leader in online advertising, its Android operating system has become the dominant platform for smartphones and is also gaining fast in tablet devices.
Google`s other projects include a self-driving car and its Google Glass eyewear. The company recently bought Nest Labs in what is seen as a move into connected home technology.
More from India
More from World
More from Sports
More from Entertaiment
- APICET 2016 Results: (apicet.net.in) AP ICET Result 2016, AP Integrated Common Entrance Test Results to be declared today on May 27 at 9 AM
- CHSE Odisha Plus Two (Class 12) Exam Results 2016 is likely to be declared today anytime soon - Check orissaresults.nic.in and chseodisha.nic.in
- Trump would approve oil pipeline project blocked by Obama on green concerns
- Deep-water search for EgyptAir black boxes to start soon
- Britain plans to send warship to fight smuggling of people, arms off Libya: Cameron