Feeds

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

Share price shenanigans nudges ExxonMobil ahead

New hybrid storage solutions

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. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Quit drooling, fanbois - haven't you SEEN what the iPhone 6 costs?
How keen will buyers be when exposed to the real price?
Ex-Autonomy execs: HP's latest wad blows apart fraud allegations
Top bods claim IT titan's latest court filing is smoking gun of 'reckless aggression'
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Elon Musk says Tesla's stock price is too high ... welp, NOT ANY MORE
As Nevada throws the SpaceX supremo a $1.25bn bone
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.