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Apple surpasses Saudi Aramco and becomes the most valuable company in the world



Apple CEO Tim Cook greets attendees during a special event on September 10, 2019 at the Steve Jobs Theater on the Apple campus in Cupertino, California.

Justin Sullivan | Getty Images

Apple drove the company’s strong earnings report to become the world’s most valuable listed company, and outperformed state-owned oil giant Saudi Aramco at the close on Friday.

Apple stock closed 1

0.47% on Friday, a market valuation of $ 1.84 trillion. Saudi Aramco, which has been the most valuable listed company since its market debut last year, has been trading at $ 1.76 trillion since its last close.

Apple’s strong third-quarter profit for the fiscal year, released Thursday, boosted its share as investors recovered behind the company’s 11% year-over-year growth. Apple also announced a 4: 1 stock split.

The company recovered from its pandemic low in March. Shares rose more than 44% this year.

“Despite the headwind of COVID-19, Apple was able to increase sales in all segments and regions and outperform consensus sales by 14% with increasing ecosystem engagement,” Morgan Stanley analysts wrote in a research report on Friday.


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