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Home / Business / Apple surpasses Saudi Aramco to become the most valuable enterprise in the world

Apple surpasses Saudi Aramco to become the most valuable enterprise in the world



Apple CEO Tim Cook greets attendees during a special event on September 10, 2019 at the Steve Jobs Theater at Apple in Cupertino, California.

Justin Sullivan | Getty Images

Apple climbed on the company’s strong earnings report to become the world’s most valuable publicly traded company, surpassing state-owned oil giant Saudi Aramco near Friday in the market.

Apple shares closed 1

0.47% on Friday, giving it a market valuation of $ 1.84 trillion. Saudi Aramco, which had been the most valuable publicly listed company since its market debut last year, is now dragging on $ 1.76 trillion since its last closure.

Apple’s third-quarter strong fiscal gains, released Thursday, boosted its shares as investors rallied after the company grew 11% year-on-year. Apple also announced a 4-for-1 stock split.

The company has recovered from its pandemic low point on Mars. Shares have risen more than 44% this year.

“Despite the COVID-19 headline, Apple increased revenue in every segment and geography, beating consensus revenue by 14% while increasing ecosystem engagement,” analysts Morgan Stanley wrote in a research note Friday.


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