World's 20 most valuable companies

Apple is all set to become the world's most valuable company by surpassing Exxon Mobil.

One of the world's biggest technology companies, Apple's market capitalisation is expected to zoom to a record high of $480 billion in the next six months.

Image: Chinese counterfeiters have had a field day pumping out knockoffs of Apple Inc's best-selling iPhones and iPads, but one appears to have gone a step further -- a near flawless fake Apple Store that even employees believe is the real deal.

Click NEXT to find out which are the world's most valuable companies...

Exxon Mobil (United States) - Rank 1
Sector: Oil & gas

The world's largest publicly traded international oil and gas company, Exxon Mobil, was formed on November 30, 1999, with the merger of Exxon and Mobil.

Market cap: $422.57 bn
Turnover: $341.578 bn
Net income: $30.460 bn
Total assets: $298.98 bn
Employees: 83,600

(Market capitalisation of all companies as on July 22, 2011)

. . .

Apple (United States) - Rank 2
Sector: Technology hardware & equipment

Apple's market capitalisation stands at $364.55 billion as of July 22, 2011. It stock price is at $394.30, up 20 per cent from the start of the year.

Apple will become the most valuable US company when the stock hits $444. Apple quarterly profit has zoomed by more than 125 percent to $7.31 billion, backed by a huge demand for iPhones and iPads.

Market cap: $364.55 billion
Turnover: $65.067 bn
Net income: $14.013 bn
Total assets: $75.183 bn
Employees: 49,400

. . .

PetroChina (China) - Rank 3
Sector: Oil & gas

PetroChina Company is the largest oil and gas producer and distributor in China.

Market cap: $273.27 bn
Turnover: $222.332 bn
Net income: $21.23 bn
Total assets: $251.279 bn
Employees: 552,698

. . .

Industrial & Commercial Bank of China (China) - Rank 4
Sector: Banking

Founded on January 1, 1984, ICBC is the largest Bank of China's 'Big Four' state-owned commercial banks.

Market cap: $235.772 bn
Net income: $25.059.3 bn
Total assets: $2042.093 bn
Employees: 389,827

. . .

Royal Dutch Shell (UK) - Rank 5
Sector: Oil & gas

A global oil and gas company headquartered in The Hague, the Netherlands, it is one of the largest energy companies.

Market cap: $233.17 bn
Turnover: $373.259 bn
Net income: $20.411 bn
Total assets: $317.199
Employees: 97,000

. . .

Microsoft (United States) - Rank 6
Sector: Software & computer services

Established on April 4, 1975, software giant Microsoft develops and manufactures a wide range of products and services.

Market cap: $232.15 bn
Turnover: $61.989 bn
Net income: $18.760 bn
Total assets: $86.113 bn
Employees: 89,000

. . .

IBM (United States) - Rank 7
Sector: Software & computer services

International Business Machines, founded in 1911, manufactures and sells computer hardware and software.

Market cap: $225.83 bn
Turnover: $99.870 bn
Net income: $14.833 bn
Total assets: $110.232 bn
Employees: 399,409

. . .

Petrobras (Brazil) - Rank 8
Sector: Oil & gas

Petrobras is the largest company in Latin America by market capitalisation and revenue. Petrobras controls significant oil and energy assets in 18 countries.

Market cap: $217.19 bn
Turnover: $128.478 bn
Net income: $21,198 mn
Total assets: $309.336 bn
Employees: 80,492

. . .

Chevron (United States) Rank 9
Sector: Oil & gas

Chevron Corporation, an American multinational energy corporation is active in more than 180 countries.

Market cap: $215.78 bn
Turnover: $189.607 bn
Net income:  $19.024 bn
Total assets: $183.918 bn
Employees: 62,000

. . .

Nestle (Switzerland) Rank 10
Sector: Food processing

Nestle is the largest food and nutrition company in the world, founded and headquartered in Vevey, Switzerland.

Market cap: $209.38 bn
Turnover:$112.005 bn
Net income:$36.651 bn
Total assets:$117.483 bn
Employees: 281,000

. . .

BHP Billiton (Australia/UK) Rank 11
Sector: Mining

BHP Billiton is the world's largest mining company. It was created in 2001 by the merger of Australia's Broken Hill Proprietary Company (BHP) and the Anglo-Dutch Billiton.

Market cap: $204.45 bn
Turnover: $50.418 bn
Net income:$12.148 bn
Total assets: $83.835 bn
Employees: 39,570

. . .

General Electric (US) Rank 12
Sector: General industrials

From aircraft engines and power generation to financial services, medical imaging, and television programming, GE operates in a number of industries across more than 100 countries.

Market cap: $202.19 bn
Turnover: $149.060 bn
Net income: $11.620 bn
Total assets: $751.200 bn
Employees: 287,000

. . .

China Mobile (Hong Kong) Rank 13
Sector: Mobile telecommunications

The world's most valuable mobile telecommunications company in the world, it is listed on both the NYSE and the Hong Kong stock exchange.

As of March 2011, China Mobile is the world's largest mobile phone operator with over 600 million subscribers.

Market cap: $198.09 bn
Turnover: $71.750 bn
Net income: $17.691 bn
Total assets: $129.297 bn
Employees: 164,336

. . .

Berkshire Hathaway (US) Rank 14
Sector: Non-life insurance

Founded by Warren Buffett, Berkshire owns a diverse range of businesses including insurance, confectionery, retail, railroad, home furnishings, encyclopedias, manufacturers of vacuum cleaners, jewelry sales and newspaper publishing.

Market cap: $191.26 bn
Net income: $12.967 bn
Total assets: $372.229 bn
Employees: 260,000

. . .

Wal-Mart Stores (United States) Rank 15
Sector: Retail

Wal-Mart Stores, Inc runs a chain of large discount department stores and a chain of warehouse stores.

The company was founded by Sam Walton in 1962 has 8,500 stores in 15 countries.

Market cap: $189.32 bn
Turnover: $418.952 bn
Net income: $16,389 mn
Total assets: $180.336 bn
Employees: 100,000

. . .

China Construction Bank (China) Rank 16
Sector: Banking

China Construction Bank is ranked as the china's second largest and the eighth largest bank in the world by market capitalisation.

Market cap: $186.136 bn
Net income: $20.460 bn
Total assets: $1640.263 bn
Employees: 301,537

. . .

Procter & Gamble (US) - Rank 17
Sector: Household and construction

A Fortune 500 American multinational corporation, it manufactures a a wide range of consumer goods.

Market cap: $179.95 bn
Turnover: $78.938 bn
Net income: $12.736 bn
Total assets: $128.172 bn
Employees: 127,000

. . .

AT&T (United States) Rank 18
Sector: Fixed line telecommunications

AT&T Inc is a leader in telecommunication services, including cell phones, wireless, high speed internet and digital TV services.

Market cap: $179.56 bn
Turnover: $124.280 bn
Net income: $19.864 bn
Total assets: $268.488 bn
Employees: 265,410

. . .

HSBC (UK) - Rank 19
Sector: Banking

Founded in 1991, it was the world's second-largest banking and financial services group and second-largest public company according to Forbes magazine.

Market cap: $176.72 bn
Net income: $13.302 bn
Total assets: $2459.129 bn
Employees: 295,061

. . .

Gazprom (Russia) Rank 20
Sector: Oil & gas

Founded in 1989, Gazprom is the largest extractor of natural gas in the world and the largest Russian company.

Market cap: $171.75 bn
Turnover:   $117.623 bn
Net income:  $31.671 bn
Total assets:  $302.017 bn
Employees: 393,000