Google Passes Exxon to Be No. 2 US Company

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Google has passed Exxon to become the second most valuable U.S. company by market capitalization.

According to FactSet data, the Internet companyโ€™s market capitalization surpassed that of oil company Exxon Mobil Corp. last week. As of Fridayโ€™s market close, it sat at $395.42 billion compared with the oil companyโ€™s $392.66 billion.

Shares of Google Inc. have been on a steady climb since the beginning of 2013, gaining 66 percent.

Market capitalization is the number of outstanding shares multiplied by their value.

Meanwhile, Exxonโ€™s have risen just 5 percent. Since the beginning of this year, theyโ€™ve lost about 10 percent of their value.

Both companies trail Apple Inc.โ€™s market capitalization of $463.55 billion.

Associated Press

 

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