Apple has lost market cap in dramatic dimensions in the first half of 2013. According to Reuters, the company has lost $128 billion. Now Exxon Mobile has a higher market cap again and Apple gets pushed to second place.
Exxon Mobile stands today at a market cap of $403.24 billion and Apple has $394.98 billion.
I am though pretty confident that Apple will take the lead again latest early 2014. The holiday quarter will be critical for Apple and the company is holding back all hardware releases for this crucial quarter. With the release of the new iPhones (iPhone 5S, iPhone Mini), iPads (iPad 5, iPad mini 2) and possible iWatch sales are likely to explode.
Disclaimer: I own Apple shares.