Apple is trading at a market valuation of
$1.78 1.84 trillion. Saudi Aramco has been the most valuable public company since their IPO. They are valued at $1.77 trillion.
Apple is now $70 billion more valuable than Saudi Aramco. This is more than adding the value of Phillips 66 ($27 billion) and Valero ($22 billion) to the value of Saudi Aramco. Phillips and Valero are top 6 US oil and gas companies. Chevron is worth $155 billion. Exxon Mobil is worth $177 billion.
Apple reported its strongest quarter. They had $59.7 billion in quarterly revenue and double-digit (11%) growth in its products and services segments. Apple announced it plans to give investors three additional shares of Apple per share already owned at the end of August as part of a 4-1 stock split.
Revenue was up nearly 11% year over year, and every major product line saw year-over-year growth. Services were up 14.85% from the year prior.
The price of Aramco shares are 33.3 riyals. At 33.3 riyals it is $1.77 trillion.
Amazon is at $1.59 trillion. Microsoft is at $1.53 trillion.
Apple and the other big technology companies were 20% lower in February, 2020. Apple was at $1.42 trillion in market value and Microsoft was at $1.4 trillion.
Sources: Google Finance, CNBC
Written By Brian Wang, Nextbigfuture.com (Brian has index funds and tech shares and some apple shares)