With a market capitalization of 1,762 trillion dollars Apple has overtaken the Saudi oil producer, Saudi Aramco, and the most valuable stock is now traded company in the world. Investors reacted positively, after Apple had submitted Figures on Thursday, which exceeded the expectations of investors by far. On Friday, Apple shares rose by ten percent and closed the day with a market capitalization of 1,817 trillion dollars. Thus, the value of the company is now in front of the Saudi Aramco, which had its stock market debut in Riyadh in December and is currently 1.76 trillion dollars will be assessed.

Saudi Aramco has had a turbulent time. The IPO was behind the expectations of the Saudi crown Prince Muhammad bin Salman's retarded. Nevertheless, he earned the company the equivalent of EUR 23.1 billion and the largest stock was in the story. As the Corona began crisis, falling crude oil prices dramatically, so the revenue of Saudi Aramco in the second quarter of this year, heavily back – the news Agency Bloomberg, according to 76 billion dollars in the previous year to 37 billion dollars.

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Apple benefited in the pandemic, on the other hand, the global digitisation push. The company reported for the past quarter of a sales increase of eleven percent to $ 59.7 billion. Analysts had expected 52.3 billion dollars. The net profit rose by twelve percent to $ 11.3 billion, and earnings per share of 2.58 dollars 54 cents better than expected. "Apple has seen a quarter with historic results," said CEO Tim Cook.

Updated Date: 01 August 2020, 12:19