Google overtook US oil giant ExxonMobil on Monday to become the world's
number two company when rated by market value, behind its high-tech
Even though Google shares fell 0.38 percent, a bigger
drop in Exxon stock allowed the Internet giant to capture the second
spot in market capitalization.
Google's market cap at the end of
the trading day was $394 billion, compared to the $388 billion of
ExxonMobil. Apple remained well ahead with a market capitalization of
Google briefly overtook Exxon during the trading
session last Friday but Monday was the first time this was confirmed at
the close of trade.
ExxonMobil shares fell 1.17 percent on Monday to $89.53, bringing its year-to-date loss to 11.5 percent.
despite Monday's modest dip, is near its all-time high and has doubled
in value since July 2012. The shares closed Monday at $1,172.93.
California-based Internet group is the world leader in online
advertising, its Android operating system has become the dominant
platform for smartphones and is also gaining fast in tablet devices.
other projects include a self-driving car and its Google Glass eyewear.
The company recently bought Nest Labs in what is seen as a move into
connected home technology.