Microsoft surpassed ExxonMobil in market capitalization
Microsoft took second place after Apple in the ranking of the largest public companies in the world. The price of the shares of the tech giant surged on Thursday on the new York stock exchange 1.63% to $ 49.58 per share, reports AFP.
Now Microsoft has a market capitalization of 408.5 billion (or nearly 328 billion euros), exceeding the value of oil company ExxonMobil. The share price of oil group plunged on Thursday at 0.96% to $ 94.46 per share and, with it, the company’s market capitalization amounted to 400 billion dollars.
Since Satya Nadella took control of Microsoft in February this year, the company’s share price jumped by 34 percent. Like its competitors, ExxonMobil has difficulties because of the decline in oil prices. From mid-June the price of oil fell 30 percent. In June, the share price of the oil giant was 104.38 dollar, the highest level this year.
Earlier this year, Google surpassed ExxonMobil in market capitalization, but only for a few days. However, the market value of Internet companies has fallen to $ 370 billion currently.
However, Apple remains unbeaten. Market capitalization as of Thursday was $ 661.7 billion.