Wednesday, May 11, 2022
Saudi Aramco becomes the world's most valuable company surpassing Apple
Saudi Aramco the world's largest oil-exporting company became the world's most valuable listed company with a market value of $2.464 trillion surpassing the iPhone maker Apple value of $2.461 trillion. Read : Indian rupee falls to its record low
This comes after the shares of Saudi Aramco hit its highest level at 46.20 Saudi Riyals in early trading on Tuesday on Saudi Exchange.
- On Wednesday, Aramco traded near its highest level with a market capitalization of $2.43 trillion, surpassing the Apple after it fell 4.4% giving it a value of $2.38 trillion. Trending : Aramco announced new fuel prices in Saudi Arabia for May 2022
- Even though tis is for short time and Apple may retake the top spot again, the role reversal underscores the power of major forces coursing through global economy.
- Saudi Aramco has been constantly hitting records high, thanks to strong oil prices that continue to soar to date.
- In terms of businesses or fundamentals, you can't compare Apple with Saudi Aramco, but the outlook for the commodity space has improved. Microsoft is third in the list with a market value of $1.978 trillion. Most Viewed : Saudi Airlines to provide Netflix and Zoom services on its flights soon
