Apple Inc reclaimed the title of World's Most Valuable Company based on market capitalisation as more rumours of upcoming next-generation iPhones and iPads continue to circulate. Apple pushed its way up the rankings to topple Exxon Mobil from the number one spot.

Last Thursday, August 1, Apple Inc's market cap was estimated to be at $414 billion. The company's share price went up as high as $456.80.

Meanwhile, Exxon Mobil's share price dropped to more than 2 per cent as its market capitalisation went down to $408 billion. The decline in share price came after news of Exxon Mobil's disappointing earnings report.

Although temporary, the changes in stock price made Apple Inc the most valuable company in the world. It's the same title that Apple has held since 2012. After the company's stocks fell late in 2012 through the first half of 2013, the title went to Exxon Mobil.

In July, Apple Inc's share price has increased to nearly $50. However, Apple remains to be lacking $100 from the beginning of 2013. Last September 2012, Apple Inc's share price went as high as $700, it's highest so far.

In late January 2013, Exxon Mobil overtook the market capitalisation of Apple as worried investors continued to sell their Apple stocks. During that time, Apple's market capitalisation was at $413 billion which is close to where the company was on the first day of August.

Apple Inc investors are hoping that the company can gain its momentum after months of relatively flat growth as consumers anticipate the debuts of the iPhone 5S, iPhone 5C, which is a low-cost iPhone, a fifth-generation iPad, an iPad mini with retina display and iWatch.

Analysts have previously discussed the possibility of Apple Inc making it to $600-mark if these highly anticipated products with new technology like fingerprint scanning will turn out to be a success in the market.

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