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
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.