Apple bubble could be deflating
Updated: Friday, January 25 2013, 07:53 PM EST
(NEWSCHANNEL 3) - Despite a record quarterly profit though, Apple's stock bubble is deflating.
Apple's forecast shows signs of slowing consumer demand for its products
As a result, Apple's stock is continuing to tumble, and the company is no longer seen by Wall Street as the most valuable U.S. company.
That title now goes to oil giant Exxon, who has edged out Apple in overall stock market value.
Both have a market cap hovering somewhere around the $415 billion mark.