Exxon overtakes Apple as top stock

Exxon overtakes Apple as top stock

Reuters: Exxon Mobil became the largest U.S. publicly-traded company by market value, one year after losing the placement to Apple.

Apple's market capitalization has fallen by about $250 billion - roughly the market value of Google Inc - since hitting a high last September, when the stock traded above $700.

Apple shares slid 12.4 percent on Thursday - their biggest percentage drop since late September 2008 - as disappointing holiday-period iPhone sales reinforced fears it is losing its dominance in smartphones.

Read more.