Google now second most valuable US firm
IOL Business/ Sapa -AP - Feb 11th 2014, 10:20
New York - Google has passed Exxon to become the second most valuable US company by market capitalisation.
According to FactSet data, the Internet company's market capitalisation surpassed that of oil company Exxon Mobil last week.
As of Friday's market close, it sat at $395.42 billion (R4.4 trillion) compared with the oil company's $392.66 billion.
Shares of Google Inc. have been on a steady climb since the beginning of 2013, gaining 66 percent.
Market capitalisation is the number of outstanding shares multiplied by their value.
Meanwhile, Exxon's have risen just 5 percent.
Since the beginning of this year, they've lost about 10 percent of their value.
Both companies trail Apple Inc.'s market capitalisation of $463.55 billion. - Sapa-AP : © Independent On-line 2013. All rights reserved.
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