Saudi Aramco has been the most valuable company in the world and it had an IPO late in 2019 and briefly traded at $2 trillion when it was worth 38.7 riyal per share. Saudi Aramco valuation is down to $1.7 trillion.
Apple and Microsoft are the most valuble companies after Aramco. Apple is at $1.42 trillion in market value and Microsoft is at $1.4 trillion.
If there were 20% price increases in Apple or Microsoft they would surpass the value that Saudi Aramco has now. If there was a 20% drop in Aramco then the Saudi Arabian oil company would fall behind the technology giants.
Oil prices are down and could remain down with coronavirus causing reduced economic activity in China and Asia.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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