The ramifications of Apple’s 12 percent drop in stock last week hit hard this morning as the company’s reign as the most profitable company in America ended with investor owned energy company Exxon reassuming the mantle. In 2011, Apple had vaulted to the top spot and the two companies had been trading it until Apple sezied complete control in 2012.

Many forecasters predicted a drop in quarterly earnings as the reasoning behind Apple losing its perch. The stock giant’s exceptional rise in less than a decade with the iPod and iPhone reached a high in September 2012 when stock prices hit an all-time high of $705.07 – the same day that the iPhone 5 dropped. But, investors are losing faith in the brand as Google’s Android service continues to rise.

The company hasn’t released a brand new device since 2010’s iPad and most wonder how long can the company continue growth by releasing new versions of older products, unlike Nike & Jordan Brand who continue to see major sales despite the constant re-releasing of older Jordan models throughout the year and especially the holiday season.

[via Mashable]