Apple lost the title of “world’s most valuable company” with a 5% drop in stocks. Aramco, the national oil company of Saudi Arabia, is currently the most valuable company in the world.
US-based technology giant Apple, which it has long held “most valuable company in the world” lost its title. With the negative movement in Apple’s stocks, which succumbed to fluctuating global economic indicators, Saudi Arabia-based oil company Aramcotook the top from Apple.
Apple shares have lost around 5% in the last twenty-four hours. This is the value of the company $2.37 trillion pulled. Saudi Arabia’s national oil company With a valuation of 2.42 trillion It surpassed Apple. Although the difference does not seem to be very big, it seems that the situation between the sectors may cause Apple to stay away from the throne for a long time.
“Nothing Surprising”
To be frank, it’s hardly surprising that Apple has lost the title of the world’s most valuable company. Because the COVID-19 pandemic global balances completely changed it. It is a well-known fact that there is a global economic crisis today. This is the investors away from risky investments. The fact that oil is gaining value both during the pandemic and due to the Russia-Ukraine war has made Aramco the most valuable company in the world.
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Here are the 10 most valuable companies in the world as of now:
- Aramco: $2.42 trillion
- Apple: $2.37 trillion
- Microsoft: $1.95 trillion
- Alphabet: $1.50 trillion
- Amazon: $1.07 trillion
- Tesla: 760 billion dollars
- Berkshire Hathaway: 688 billion dollars
- Meta: 540 billion dollars
- Johnson & Johnson: $463 billion
- UnitedHealth: $456 billion