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Apple is now the worlds most valuable publicly traded company
Illustration by Alex Castro / The Verge
Apple is now the world’s most valuable publicly traded company, passing Saudi Arabia’s state-owned oil company Saudi Aramco. As of close of business Friday, Apple has a market valuation of $1.84 trillion, while Saudi Aramco’s is $1.76 trillion, according to CNBC. Apple’s stock, which has been on a largely-steady climb since the end of March, closed up more than 10 percent on Friday following the company’s record-breaking third-quarter earnings on Thursday, ending the day at $425.04.
Apple’s total revenue for Q3 hit $59.7 billion, up 11 percent from last year. Strong Mac and iPad sales were a highlight, and the company likely saw increased demand for the devices while people have been sheltering in place due to the COVID-19 pandemic....
Original Link: https://www.theverge.com/2020/7/31/21350154/apple-worlds-most-valuable-company-saudi-aramco
The Verge
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