Joe Johnson
Apple, the leading global brand in technology, has overtaken Saudi Aramco (Saudi’s state-owned oil company) to become the world’s most valuable publicly listed company.
Apple recorded this feat when its shares gained over 10 percent to a record high at the end of the trading session for the week, after reporting impressive quarterly results.
Apple’s stock ended the trading session at $425.04, putting its market valuation at $1.82 trillion, according to the share count the company provided yesterday.
Saudi Aramco, which had been the most valuable listed company since going public in 2019, now has a market capitalisation of $1.760 trillion as of the end of the last trading session.
Saudi Aramco, which had been the most valuable listed company since going public in 2019, now has a market capitalisation of $1.760 trillion as of the end of the last trading session.
Apple’s fiscal third-quarter revenue stood at $59.7 billion, a record for the June period, the company disclosed in a statement. That was up 11 percent from a year earlier and beat analysts’ estimates of $52.3 billion.
The feat recorded by Apple yesterday was its largest one-day percentage gain since March 13.
Apple added $172 billion in market value during yesterday’s trading session.