Apple Momentarily Passes Exxon as Most Valuable Company

In a nervous market, the tech company fares well, surpassing Exxon mobile

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Update: At close of the market, Exxon won the day, maintaining its title as the most valuable company with a market cap $348.32 billion, just a smidgen higher than Apple's $346.74 billion.

With the open of the stock market to nervous traders, U.S. stocks are on their way up and things are looking especially good for one company in particular: Apple. This afternoon they officially, "briefly," according to Reuters, became the most valuable company. Business Insider's Jay Yarrow caught the CNBC news that the line had actually been crossed just a few minutes after 1:20 p.m. Reuters, too, is reporting the event, saying Apple's market value was up to "$341.5 billion, just above Exxon's at $341.4 billion." As the oil company's value declines, the seemingly unstoppable tech company is faring well in this tumultuous market.

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