Will Apple (NASDAQ:AAPL) Really Surpass Exxon (NYSE:XOM) As Largest Company This Year?

Speculation that it's inevitable that Apple (NASDAQ:AAPL) will soar past Exxon Mobil (NYSE:XOM) as the largest company in the world has been circulating for some time, and with Apple's recent performance and products in the pipeline, some are predicting they'll surpass Exxon sometime within the year.

Apple is easy enough to figure out, they're being driven mostly by sales of iPhones and iPods, with iPads and Macintosh computers adding to its successful product mix.

In the last quarter of 2010 Apple sold an amazing 14.1 million iPhones, 9.05 million iPod music players and 4.19 million iPad tablets and 3.89 million Macintosh computers.

That was all Christmas sales of course, and won't be duplicated going forward, although the introduction of a new iPad could generate a lot of sales, although growing competition in smartphones and tablets will pressure the company.

While tablet share will plunge for Apple, the market is growing so quickly, they could still equal the numbers of units sold while losing market share.

The economy will have a lot to do with the performance of Apple as well.

For Exxon, much of their near-term future will be dependent upon the price of oil, which has been rising. If geo-political problems arise or other unforeseen events, the price of oil could skyrocket, along with the value of the company.

There is also the possibility Exxon could make a big acquisition which could add to the value of the company.

Exxon is also market cap of over $80 billion more than Apple at this time, and it won't be easy to just add that kind of value to a company within a year, although it's quite possible Apple will test that assumption.

The idea that Apple will surpass Exxon as the world's most valuable company is based upon most things going right for the company and Exxon not gaining in value much.

That's not an impossible scenario by any means, but one that isn't necessarily going to happen either.

Either way, Apple appears to be moving along the lines of destiny, and with their core base of shareholders, fans and customers, they have a realistic chance of overtaking the energy giant.

If it isn't this year, it could very well be the next.

Exxon closed Wednesday at $82.55, falling $0.43, or 0.52 percent. They had a market cap of $411.02 billion. Apple closed at $358.16, gaining $2.96, or 0.83 percent. They had a market cap of $329.96 billion.