While Apple Inc. (NASDAQ:AAPL) seems to be the leader in every aspect of business that it is involved in, one area where the company finds itself in the bridesmaid role is in terms of market cap. For the last two years now, Apple has been chasing Exxon (NYSE:XOM) for the title of largest company in the world. With Tuesday's after-hours move, Apple is putting a big dent into Exxon's lead. Using a price of $405 per share, Apple's market cap is $374.5 billion compared to Exxon's market cap of $412.0 billion. That puts the gap between the two stocks at $37.4 billion, which is the lowest spread since June 25th, 2010.
So how much does Apple have to rally in order to gain the title of largest company in the world? Assuming no change in the price of Exxon, Apple would have to rally an additional 10.1% to $446. Nothing another blowout earnings report can't handle, right?
Click to enlarge: