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Apple loses throne as world’s biggest company to Exxon Mobile

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Exxon Mobile unseated Apple Inc. as the world's largest company Wednesday, after the technology giant's steep slide in shares knocked it down to second place.

The Wall Street Journal reports that the two companies have been jockeying back and fourth for the top position for much of this year. Apple has held the title for a little over a year, but before that, Exxon had been king dating back to 2006.

Apple shares recently dropped more than 5 percent, the Wall Street Journal reports. Exxon shares are down less than 1 percent.

Google, Berkshire Hathaway and Wal-Mart make up the other top five businesses.

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