The maker of the iPhone and the iPad surpassed Exxon Mobil in market value on Wednesday. Apple's stock fell for the day, but Exxon's fell more.
Apple finished with a market value of $337 billion, beating Exxon's $331 billion. A single share of Apple stock now costs $363.
Experts attribute this to the recession-proof products made by Apple. In its latest quarterly report, Apple said stronger iPhone and iPad sales helped more than double its net income to $7.3 billion and grow revenue by 82 percent to $29 billion.
Companies that have reached the No. 1 spot in the past include General Motors and Microsoft.
The Associated Press contributed to this report.
