American Apple surpassed state oil giant Saudi Arabia Saudi Aramco in terms of market capitalization and regained its status as the most expensive company on the planet. This writes CNBC.
After the strong financial report for the third quarter (the US fiscal year runs from October to September), Apple’s stock went on the rise and by the end of Friday’s trading closed at 10.47 percent higher than the opening level. Capitalization of the American company made up 1.84 trillion dollars.
Thus, the American tech giant has recovered from the recession caused by the pandemic coronavirus. Currently, the company’s shares are nearly 50 per cent of the minimum value reached during the March collapse. The value of Saudi Aramco, which replaced the Apple in the position of most expensive companies in the world after going public in late 2019, now is 1.76 trillion dollars.