Apple Recap: Market Cap Woes, Samsung Boom, Labor Pains

Apple’s (NASDAQ:AAPL) stock dropped 2.36 percent on Friday to close at $439.85, a whole 12.03 percent below the level it was at when the week began. In a dramatic week, the middle of which saw the release of the company’s fiscal first-quarter earnings report, Apple’s status changed from Wall Street’s darling to stock of mystery. Here is a cheat sheet to the key stories that moved with the stock on Friday:

Markets are at 5-year highs! Discover the best stocks to own. Click here for our fresh Feature Stock Pick now!

Apple is Bested

Apple lost its status as the largest U.S. publicly traded company by market value during the trading day on Friday to Exxon Mobil (NYSE:XOM) as its shares continued to fall. With Apple falling 2.36 percent on the day to $439.88, its market value stood at roughly $413 billion. Exxon, with its shares largely flat on the day at $91.73, had a market value above $418 billion. Apple had beaten Exxon to the title exactly a year ago, on January 25, 2012. However, since reaching a record-high price in September, its shares have slipped more than 35 percent. It is still the most valuable tech company, with both Google (NASDAQ:GOOG) and Microsoft (NASDAQ:MSFT) possessing a value of around $250 billion each… (Read more)

More Articles About:   , , , ,