Apple is no longer the world’s most valuable company. As of Friday, the coveted title is held by ExxonMobil. The switch seems to have been caused more by a faltering on Apple’s part than a particular surge in ExxonMobil’s stock, as less than stellar iPhone sales, leadership shake-ups, and serious competition from fellow smartphone and tablet producers has hobbled Apple since CEO Steve Jobs resigned in 2011. Still, Jobs’s baby leads Google and Microsoft as the most valuable tech company.
