Apple Becomes The World’s Most Valuable Company Overtaking Saudi Arabia’s Aramco As It Nears $2 Trillion Market Cap
Apple shared some stellar numbers during its quarterly earnings call yesterday and that’s had quite the impact on The Wall Street.
AAPL is now trading at its highest ever and that’s had an important side effect – Apple overtook Saudi Aramco to become the world’s most valuable company.
The news comes after Apple also announced a 4-1 stock split. Its shares are currently trading for around $410 each, with those shares set to be worth just over $100 each when the split takes place on August 31. The current share price is an all-time high for AAPL.
Apple only recently hit the $1.5 trillion milestone in June, with yesterday’s earnings call pushing it even more skyward. It’s now worth around $1.84 trillion, allowing it to become the world’s most valuable company.
Apple’s quarterly earnings call was one of positivity in the face of a continuing coronavirus pandemic. Apple was forced to close all Apple Stores at one point or another in an attempt to aid social distancing, but that hasn’t prevented a quarterly revenue growth of 11% and a $11.25 billion profit.
The numbers are, as ever, impressive. Apple also announced during its earnings call that the iPhone 12 and iPhone 12 Pro will miss their usual September release window, although that did little to dampen the mood.