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

Apple accounted for the company’s strong revenue to become the world’s most valuable publicly traded company, ahead of state-owned oil giant Saudi Aramco on Friday.

Shares of Apple closed 1

0.47% on Friday, giving it a market value of 1.84 trillion dollars. Saudi Aramco, which was the most valuable public limited company since its market debut last year, now reaches $ 1.76 trillion since its last close.

Apple’s strong third-quarter fiscal gains, released on Thursday, boosted as investors gathered behind the company’s 11 percent annual growth. Apple also announced a 4-for-1 split.

The company recovered from the low point of the pandemic in March. The shares are over 44% this year.

“Despite the headwinds of COVID-19, Apple has increased revenue in every segment and geography, beating consensus revenue by 14% as commitment to the ecosystem increases,” Morgan Stanley analysts wrote in a research note on Friday.