Feeds

PEAK APPLE: Fondleslab giant no longer world's biggest biz

Share price shenanigans nudges ExxonMobil ahead

Choosing a cloud hosting partner with confidence

Apple has lost the title of world's biggest company after a share slide allowed oil giant ExxonMobil to take the top spot.

Fears over future sales for iPhones and iPads sent shares in the fruity firm falling on Wednesday from $420.27 to a low of $398.11, before recovering to end the day at $402.80 - a drop across the day of 4.16%. ExxonMobil is now worth slightly more than Apple's $380 billion.

This is the first time Apple's shares have dipped below the $400 mark for 18 months. Late last year its shares were hovering around the $700 mark.

The shares plunged after Cirrus Logic, a key Apple supplier, reported a decline its sales. Apple snaps up some 90% of Cirrus' sound components for use in the iPad and iPhone, but Cirrus' earnings for this quarter are expected to be significantly down - and it doesn't expect sales to pick up any time soon. On Tuesday Cirrus said an "unnamed company" had ordered fewer components.

This has been widely read as a clue that Apple has plans to produce fewer of the next generation of iPhones, perhaps after building up a surplus. However, this could be also explained as Apple finding a new component supplier.

China also appears to be becoming increasingly hostile to Apple, accusing it of peddling porn through the app store and forcing Tim Cook to apologise about the standard of his underlings' customer service.

These ructions to a market which eats up 15% of the fruity firm's produce, and is worth $23.8 billion to Cupertino, are bound to be worrying Cook and his crew. ®

Internet Security Threat Report 2014

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
HBO shocks US pay TV world: We're down with OTT. Netflix says, 'Gee'
This affects every broadcaster, every cable guy
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
SCREW YOU, EU: BBC rolls out Right To Remember as Google deletes links
Not even Google can withstand the power of Auntie
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
America's super-secret X-37B plane returns to Earth after nearly TWO YEARS aloft
674 days in space for US Air Force's mystery orbital vehicle
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.