iPhone, MacBook, Apple Watch, iPad, Apple TV digital media player, AirPods – These are the most fashionable and admired stuff for most of us. Using the iPhone in Asia become the fashion symbol now. We use these electronic gadgets for their amazing quality and service. But many of us rarely have an idea about the world-famous Apple. But all of us know the name of the famous products of this amazing and famous company. This renowned Apple Inc is an American Multinational technology-based company. The headquarter of this multinational company is placed in Cupertino, California. The founder of this company is Steve Jobs, Steve Wozniak, and Ronald Wayne. It took 8 years only founding and incorporating, started in 1976, and ended in 1984. Apple in Asia is count in big tech giants along with Google, Microsoft, and Amazon. Recently Apple overtakes another most renowned company named Saudi Aramco and becomes the world’s most valuable public company.
Many of us listen to the name of Saudi Aramco for the very first time. You must want to know a bit about this company which has been the most valuable publicly listed company and going public since last year. The official name of Saudi Aramco is the Saudi Arabian Oil Company. This is a Saudi Arabian multinational petroleum and natural gas company. This company mainly based in Dhahran, Saudi Arabia. This company is the leading producer of chemicals that influence global commerce and makes our life easier. This company has a global partnership in all over the world, from international startups to strategic global innovation hubs. But this company has started its journey 80 years back with a small group in Saudi Dessert. But now the market capitalization of this company is $1.760 trillion according to Refinitiv data. This company also sponsored the selective organization, events, and projects. This is the strategy of making the alignment with other companies or businesses.
As we all know, Apple generates revenues from its sellable online and offline products, Apple music, and subscription fees associated with iCloud. On July 30, 2019, Apple posted quarterly revenue of $53.8 billion. Saudi Aramco has been defeated to Apple and the iPhone makers overtake Saudi Aramco and become the world’s most valuable publicly listed company. Apple’s stock streamed to as high as $412.22 a share. This company has its market capitalization at $1.762 trillion according to the share count given by apple. So since last year, the most valuable publicly listed company was Saudi Aramco, but this year Apple made history by overtaking this eminent company and take its place successfully. In midday trading, the market capitalization of Apple stood at $1.748 trillion.
It was the largest one-day percentage gained by Apple since 13th March. Apple added $172 billion in market capitalization which is greater than the entire stock market. According to the filing since July 17, this company had an outstanding share of 4,275,634,000. Apple has surged about 40% year to date. Apple and other major US-based tech companies will emerge from Coronavirus pandemic stronger than smaller rivals. Apple also shares its first share split since 2014. They announced a four-for-one stock split, with trading on a split-adjusted basis. Following the company’s report, over 20 analysts have raised their price targets for Apple’s stock.