Saudi giant Aramco has overtaken Apple to become the world’s most valuable company
A 5% drop in the value of Apple shares last Wednesday has led the company led by Tim Cook to stop being the most valuable company in the world. As reported from CNBCApple shares have fallen by as much as 20% since hitting a high of $182.94 in January this year.
The oil giant Aramco, based in Saudi Arabiahas become the current most valuable company in the world, with a valuation of 2.43 billion dollars.
The increase in the price of oil leaves Apple as the second most valuable company in the world
While Apple is down nearly 20% from January 4th to now, Aramco stock price It has increased by up to 27% throughout the year 2022 due, above all, to the increase in the price of oil. As a result of this, the profit of the Saudi oil company has doubled compared to last year.
In this way, Aramco has regained the first position of the ranking of the most valuable companies in the world that it lost in 2020, when Apple managed to overcome it.
Today, Apple is valued at $2.37 trillionwhile Aramco already reaches the $2.43 trillion. Other giants of the technology industry do not reach the figures of these two companies, with Microsoft being valued at 1.91 billion dollars, Alphabet – Google’s parent company – at 1.49 billion dollars and Amazon with 1.04 billions of dollars.
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