Apple is worth more than Saudi Aramco (for a moment)

The excellent results that emerged from the last quarterly literally made the Apple stock fly on the stock exchange yesterday, so much so that for a short period of time the Cupertino group became the company with the largest capitalization value in the world (1,786 trillion dollars). Saudi Aramco, the Saudi oil giant, left behind, but shortly thereafter recovered the top step of the podium.

Apple on Saudi Aramco, temporary overtaking

The bitten apple benefited from an increase in sales of hardware products in the last period characterized by the health crisis, with an extremely positive response in particular for the devices of the iPhone line as well as for the computers of the Mac range and for the tablets of the iPad family. Services also performed well, on which the company has focused more and more in recent years, driven by the long-term vision of CEO Tim Cook with the aim of adapting the business to changes in the market, dictating them whenever possible.

Saudi Aramco is the national hydrocarbon company of Saudi Arabia with assets that exceed 10 million barrels on a daily basis. It is based in the city of Dhahran. The name, Aramco, represents the contraction of "Arabian American Oil Company".

Source: Reuters