While Apple Inc. seems to be the leader in every aspect of business that it is involved in, one area where the company finds itself in the bridesmaid role is in terms of market cap. For the last two years now, AAPL has been chasing XOM for the title of largest company in the world. With today's after-hours move, AAPL is putting a big dent into XOM's lead. Using a price of $405 per share, AAPL's market cap is $374.5 billion compared to XOM's market cap of $412.0 billion. That puts the gap between the two stocks at $37.4 billion, which is the lowest spread since June 25th, 2010.
So how much does AAPL have to rally in order to gain the title of largest company in the world? Assuming no change in the price of XOM, AAPL would have to rally an additional 10.1% to $446. Nothing another blowout earnings report can't handle, right?
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