Good news for Apple as they have now become the worlds most valuable company.
Funny enough, most people already thought they were. However, news have been uncovered that they are now crowned the worlds most valuable company getting ahead of oil giant Saudi Aramco on Friday.
On Friday, Apples market value went up 10.47% raising its market valuation to $1.84 trillion.
Saudi Aramco, which before now took the seat for most valuable has a valuation of $1.74 trillion according to the recent check.
Apples third quarter earnings are what is responsible for this increase. For that reason alone, investors rallied behind the company’s 11% year-over-year growth. Apple also announced a 4-for-1 stock split.
Apple has really recovered from the low point it experienced at the onset of the pandemic. The company has been able to attain a 44% increase this year.
“Despite COVID-19 headwinds, Apple grew revenue in every segment and geography, beating consensus revenue by 14% as ecosystem engagement rises”