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Apple Becomes Most Valuable Listed Company, Pips Saudi Aramco
On record gains of 10% on Friday (July 31, 2020), the iphone maker company has now topped as the world's most valuable listed company, outpacing Saudi Aramco, the energy leader in the process.
The stock of Apple on Friday settled at $425.04, taking its m-cap to $1.82 trillion as per the share chare given by the company to the exchange in a regulatory filing.
With the best one-day gains since March 13, it has added in value $172 billion, which is highest than Oracle's overall market value.
Since its listing last year, Saudi Aramco held the position as the most valued company and at the close of the session on Friday, its market capitalization stood at $1.760 trillion as per the Refinitiv data.
As in the Indian shore, US tech giants are seen to recover from the effects of the pandemic faster than their smaller peers.
Also, the tech giant announced announced a four-for-one stock split, with trading on a split-adjusted basis starting on Aug. 31. It will be Apple's first share split since 2014.
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