Apple becomes the world's most valuable listed company, leaving Saudi Aramco behind

Shares of the world's leading technology company Apple Inc saw a tremendous increase of up to 10 per cent on Friday 31th July 2020. This led to a tremendous increase in the market capitalization of the iPhone maker and became the most valuable listed company in the world. Apple has surpassed Saudi Aramco in terms of market cap. Due to the excellent results of the June quarter, the company's shares have seen this rise. Apple's stock price rose to $ 425.04 at the close of trading on Friday. With this, the company's market capitalization rose to 1.82 trillion dollars.

 

Apple Inc. This was the biggest increase recorded in one day since March 13th. The company's market capitalization increased by $ 172 billion in the entire trading session on Friday. This figure exceeds the entire market capitalization of Oracle Corp.

 

Saudi Aramco was consistently ranked first on the list of the most valuable listed company since the Public Listing last year. According to the data of Refinitiv, the company has a market capitalization of $ 1.760 trillion. Apple Inc. on Friday Shares of the company has seen a sharp rise as investors believe that the iPhone maker and other US technology companies will emerge stronger than smaller competitors after the Coronavirus crisis.

 

Apple has announced excellent results for the June quarter. According to Refinitiv, more than 20 analysts have increased the target price of Apple's stock after the excellent results.