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RSS FeedsApple briefly unseated as world`s most valuable company by Saudi Aramco
(iMore iPhone)


12 may 2022 11:42:20

Apple briefly unseated as world`s most valuable company by Saudi Aramco
(iMore iPhone)

AAPL shares fell more than 5% in a single day. What you need to know Apple is no longer the world`s most valuable company. Shares tumbled more than 5% on Wednesday, bringing the cap to `just` $2.37 trillion. Oil giant Saudi Aramco ended with a $2.43 trillion cap on Wednesday, however, its shares have fallen in Thursday`s early trading. On Wednesday, Apple was briefly unseated as the world`s most valuable company as shares in the tech giant tumbled more than 5% in a single day. Apple`s crown has been under threat for some time, with Saudi Aramco (officially the Saudi Arabian Oil Company) enjoying strong growth in recent weeks. That threat came to a head at the close of trading on Wednesday, with Apple`s market cap closing down at $2.37 trillion, compared to Saudi Aramco`s $2.43 trillion. It`s the first time Apple has fallen out of the top spot since 2020. Year to date, Saudi Aramco`s shares are up more than 25%, conversely, Apple`s value has fallen by nearly 20% in the same t...

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