Apple bypasses Aramco to become the richest company in the world

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The value of the American company, “Apple” Saudi Arabia, “Aramco”, after its share jumped more than 10% to an unprecedented value, on Friday, after announcing positive quarterly results, to become the richest company in the world.

“Apple” ended the session at $ 425.04, which makes its market capitalization at $ 1.82 trillion, based on the number of shares mentioned in the periodic disclosure of the American company.

And the rise of Apple shares, according to “Reuters”, added $ 172 billion to its market capitalization during the session, an increase that alone exceeds the total market value of Oracle.

According to the data of the Refinitiv Foundation, the market capitalization of Saudi Aramco, which was the most valuable listed company since its launch last year, is $ 1.76 trillion, according to the last closure.

The number of listed shares for Apple reached four billion and 275 million and 634 thousand shares until July 17, according to the disclosure, and after buying shares worth $ 16 billion in the quarter ending in June.

With the increase achieved by the stock on Friday, it will have increased 45% since the beginning of the year, as investors are betting that it and other US technology companies will emerge from the Corona virus pandemic stronger than smaller competitors.

In its quarterly report, Apple announced splitting its share per share into four stocks, as trading starts on the basis of change according to retail on August 31, as this will be Apple’s first stock split since 2014.

Refinitiv calculates that more than 20 analysts raised their price expectations for Apple shares after the company report, but the new average price analysts expected, which reached 409.63, is less than Friday’s closing price by more than $ 15.

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