Exxon (NYSE: XOM) overtook Apple (NASDAQ: AAPL) last week as the largest company in the world by market cap. This week, the big-oil company will see if it can build on that momentum with a strong fourth-quarter earnings report.
Exxon shares are up 8% in the last month, increasing the oil giant’s valuation to $418 billion as of this morning. Meanwhile, Apple – which as recently as October was the most valuable company in the world by more than $200 billion – has been in freefall, its market cap dipping to $413 billion.
AAPL shares have plummeted 37% since late September, finishing last week at a year-low $439. A bad earnings report sent the stock tumbling late last week, allowing Exxon to overtake it in market cap.
That shows the importance of earnings. A weak first quarter could halt Exxon’s momentum and send the stock falling off a cliff the way Apple’s did last week.
We’ll know Friday when Exxon reports earnings. Here are the rest of this week’s notable earnings reports:
- Yahoo! (NASDAQ: YHOO)
- Pfizer (NYSE: PFE)
- JetBlue Airways (NASDAQ: JBLU)
- ConocoPhillips (NYSE: COP)
- Boeing (NYSE: BA)
- Altria (NYSE: MO)
- UPS (NYSE: UPS)
- Time Warner Cable (NYSE: TWC)
- Chevron (NYSE: CVX)