Facebook Inc (NASDAQ:FB) Is The Fourth Most Valuable Company Toppling Exxon Mobil Corporation (NYSE:XOM)
Facebook Inc (NASDAQ:FB) overtook Exxon Mobil Corporation (NYSE:XOM) to earn the status of being the fourth most valuable company by market capitalization. Facebook reached $328 billion out spacing Exxon’s $315 billion. Facebook market value sky rocked in the five days after posting a flawless earning report last week. The report showed gains in advertising revenues on tablets and smartphones alongside increasing number of users. The report also stated that Facebook experienced a 51.7% increase in revenue. New ad format and improved mobile app were noted as key in the boost of sales.
Exxon has experienced a near opposite fate. Its value has fallen due to a global glut of oil, which has pushed prices to a record low. Exxon was once at the top of the list though the inconsistency within the oil prices, which at times have forced layoffs within the industry, has driven it down. Exxon is now competing with Warren Buffet’s Berkshire Hathaway Inc. (NYSE:BRK.A) for the fifth slot in the top five American companies by market capitalization.
The top four companies as of now are the following: Apple Inc. (NASDAQ:AAPL), Alphabet Inc (NASDAQ: GOOGL), Microsoft Corporation (NASDAQ: MSFT) and now Facebook Inc (NASDAQ: FB) respectively.
Market caps and stock price are ever changing, but the categorization is more than a leaderboard of statistics. It indicates how large numbers of Wall Streat investors feel about a company’s future, and it’s growth potential.
After Facebook had gone public, many investors feared it would not make money off of smaller screens, but now it is seen as the fast growing technology company. Wall Streat usually estimate revenue growth for different companies all the time. Currently, they see Facebook the way Apple once was. It value seems to be ever raising.
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Apple dominance in the number one spot might just be fading away after it recorded a slowdown in the sale of iphones. Apple has no clear product in line which might just replace the sagging revenue growth. Investors have noted this and are not quite sure of Apple future as the leading company. Google is the most likely company to take the title in case Apple drops it. Google, fresh with a new name and a major organizational structure is seen as having potential products that could fuel its growth.