Trending

Apple overtakes Saudi Aramco to become the world’s largest company

Apple overtakes Saudi Aramco to become the world’s largest company – Shares of Apple Inc (AAPL.O) rose 7.1% to a record on Friday after reporting massive quarterly results, which helped the iPhone maker briefly outpace Saudi Aramco to become the largest public company in the world.

The company’s shares rose to a record $412 in early trading. Closing at this level would give it a market capitalization of $1,786 billion.

The market value of Saudi Aramco (2222.SE), which was the largest public company since its shares were launched last year, reached $ 1.76 trillion until the last close.

Apple released impressive third-quarter results yesterday and announced the 4-1 stock split. With the open market this morning, AAPL shares reached its highest level ever, and now the company’s market value has briefly exceeded the value of Saudi Aramco to become the most valuable public company in the world on its way to market value. 2 billion dollars.

AAPL shares opened more than 6% this morning after the company’s record in the new quarter of June, which pushed it to more than $ 410 (as of this writing), the highest new level ever for the stock.

In June, Apple reached a new stage of the market value of $ 1.5 trillion, and the company’s latest stake rose to $ 1.78 trillion, surpassing Saudi Aramco’s moments as the most valuable publicly traded company in the world. (Via Reuters).

The market value of Saudi Aramco recently reached $ 1.76 trillion, and Apple and the oil giant can trade positions as the most valuable company in the world during today’s trading.

During Apple’s third quarter, the company saw an impressive 11% growth with revenues of $ 59.7 billion and profits of $ 11.25 billion. Contrary to the expectations of many analysts, the epidemic produced more sales than ever before for its products, especially iPad and Mac.

Also Read

You may also like