Apple Now World's Second Largest Company by Stock Market Value
Apple on Thursday overtook PetroChina Co. in terms of stock market value, making the Cupertino, Calif., company the second-largest company in the world, as noted by Bloomberg.
Apple is now valued at $265.8 billion, ahead of PetroChina's $265.5 billion and only behind Exxon-Mobil, the largest company in the world, which had a value of $313.3 billion Thursday. This was due to the fact that Apple stock hit an all-time high as high as $290 at one point during the day. The stock has increased a total of 37 percent this year.