Home / Business / Apple is now the world’s most valuable listed company

Apple is now the world’s most valuable listed company



Apple is now the world’s most valuable listed company, surpassing Saudi Arabia’s state oil company Saudi Aramco. As of Friday, Apple has a market capitalization of $ 1.84 trillion, while Saudi Aramco has $ 1.76 trillion, according to CNBC. Apple’s stock, which has been on a broadly steady rise since the end of March, closed up more than 10 percent on Friday after the company’s record-breaking third-quarter results on Thursday, ending the day at $ 425.04.

Apple’s total revenue for the third quarter reached $ 59.7 billion, an increase of 11 percent from last year. Strong sales of Mac and iPad were a highlight, and the company probably saw increased demand for the devices while people have been protected on the spot due to the COVID-1

9 pandemic. Apple also announced a four-for-one stock split as part of its third-quarter earnings, which will lower the price of an individual stock.

Amazon, Facebook and Google all announced revenue yesterday as well, and for the most part they had pretty good quarters. Amazon doubled its profits – during a pandemic. Facebook saw a daily user increase of 12 percent from year to year 1.79 billion. And together, the four companies combined $ 28.6 billion in profits. As my colleague Liz Lopatto put it, during the pandemic, technology companies are pulling it in.


Source link