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Apple Inc. surpasses Exxon as most valuable company - momentarily

Apple Inc. is still number 2 in the US, but for a moment the company surpassed Exxon Mobile to become the most valuable company in America, Tuesday.

By Associated Press / August 10, 2011

Apple Inc. briefly edged past Exxon Mobil Corp to become the most valuable US company on Tuesday, displacing an old economy stalwart and heralding an era where technology holds sway.

Suzanne Plunkett/Reuters

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Apple Inc. briefly surpassed Exxon Mobil Corp. on Tuesday afternoon as the nation's most valuable company.

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SO CLOSE

The iPhone and iPad maker had the lead for much of the afternoon before its stock closed just behind Exxon's.

The two companies are so close that Apple is likely to gain, and keep, the top spot soon.

THE NUMBERS

Apple shares gained 5.9 percent to $374.01 on Tuesday, bringing its market capitalization to about $347 billion.

Exxon Mobil's stock, meanwhile, closed up 2.1 percent at 71.64.

That gives the oil company a market cap of $348 billion as of the market's close. Its stock retreated earlier in the day, allowing Apple to take the lead.

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