Apple's stock rose as much as 8 percent, while Exxon's fell as much as 2 percent during trading Wednesday.
Exxon Mobil Corp.'s stock closed up 4 cents at $87.22 for a market capitalization of $418 billion. Apple's increased 6 percent to $446.66 for a market cap of about $415 billion.
Apple said Tuesday that net income in its latest quarter more than doubled, while revenue grew 73 percent.
Cupertino, Calif.-based Apple first topped Exxon in August, then fell back to second place. Irving, Texas-based Exxon had held the top spot since 2005.
Apple overtook Microsoft Corp., now in the No. 3 slot, in 2010.
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