After more than a year on top in the race for most valuable company in the world, shares of Apple (AAPL) have given back the crown to Exxon Mobil (XOM) today. While XOM is now the most valuable company in the world, it did not get there due to any real strength. It has merely not fallen as fast as AAPL.
Since their peak in September of last year, shares of AAPL are down 44%. XOM, on the other hand, is down a relatively modest 6.75%. In an overall market that is up 6.1%, neither performance is very good. Think of how much better the market would look without these two dogs.