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Apple tops Saudi Aramco as most valuable publicly listed company

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Investors are betting that tech firm will emerge from the pandemic stronger than its rivals. FMTNews

SAN FRANCISCO: Apple Inc’s surged over 10% to a record high on Friday after reporting blockbuster quarterly results, helping the iPhone maker eclipse Saudi Aramco to become the world’s most valuable publicly listed company.

It was Apple’s largest one-day percentage gain since March 13, and it added US$172 billion in market capitalisation during the session, greater than the entire stock market value of Oracle Corp. After Apple bought back US$16 billion worth of shares in the June quarter, it had 4,275,634,000 outstanding shares, as of July 17, according to the filing.

 

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