Posts Tagged ‘ Exxon ’

David K. Randall, AP Business Writer, On Sunday October 3, 2010, 2:55 pm EDT NEW YORK (AP) — Here’s something to think about the next time you pick up a call on your iPhone: the device you’re holding may soon be the signature product of the most valuable company in the world. Thanks to its line of gadgets that combine the ability to make calls, send email, read books, watch movies and listen to music, Apple Inc. is on a path to overtake Exxon Mobil Corp. as the largest company by market capitalization. While Apple CEO Steve Jobs will no doubt be happy about his new perch atop the business world, there’s more at stake here than mere bragging rights. As soon as the total value of the company’s shares edges above Exxon’s, Apple will take over the top spot in the Standard and Poor’s 500, the market index used by most professional money managers. That means that billions of dollars invested in funds that track the index will have to shift their holdings...

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