Wednesday, September 16, 2020
Saudi Aramco retakes Crown from Apple as World's most Valuable Company
Oil giant company Saudi Aramco retakes the crown of most valuable company after its market capitalization rose a shade above the Apple amid a wider sell-off in US technology shares.
Saudi Arabia's Aramco stock has gained 1.1% in Riyadh this month, despite the crude dropping 12% below 40 dollars a barrel as concerns about an acceleration in corona virus infections mount. Trending : Women are not allowed to work at places designated for men like barber shop, Men's sports club
- Apple has fallen by nearly 17% in September and the company's market value declined to 1.9 trillion dollars from 2.3 trillion, Only 2 companies Aramco and Apple in the world achieved the valuations of 2 trillion dollars.
- In the middle of August, Apple hit the 2 trillion US dollars market capitalization milestone, this is the first time a US firm had reached so. Saudi Aramco, the world's largest oil producer, peaked at just above the level in December, shortly after its first public offering. See Also : It is not possible to issue Final exit for expat who are outside Saudi Arabia on re-entry visa
