Saudi Aramco Overtakes Apple As the World’s Most Valuable Company

Saudi Aramco has surpassed Apple to become the world’s most valuable company once again, following the recent rise in oil price that has been largely spurred by the Russia-Ukraine conflict. The tide turned on Wednesday after Aramco traded near its highest level on record, with a market capitalization of about $2.43 trillion, surpassing that of Apple for the first time since 2020. The iPhone maker fell 5.2 per cent to close at $146.50 per share, giving it a valuation of $2.37 trillion. Apple, like others, has been caught in the web of brewing economic crisis that has instigated massive selloff … Continue reading Saudi Aramco Overtakes Apple As the World’s Most Valuable Company