Apple is no longer the most valuable company in the world

The technical genius of Steve Wozniak and the entrepreneurial genius of Steve Jobs in 1976 Apple is the company that will lead the laptop and mobile phone revolution. His works, especially Match and iPhonelaunched the brand to make the Cupertino company the most valuable company in the world. AgainThat reign (on paper) came to an end this Wednesday when it was overtaken by oil giant Saudi Aramco.

Apple shares fell 5%, putting the company in trouble. market capitalization $2,370 million (approximately 2,271 million euro). For his part, shares of Saudi Aramco, which currently produces 10% of all capital Oil worldwide – continuing their upward trend, making their capitalization equivalent to approximately 2,310 million euros.

market volatility

Experts point out that this Saudi ‘sorpasso’ is due, among other factors, to increased volatility in the markets caused by the war in Ukraine. Inflation, rising energy prices, and the potential impact of the conflict on strategic sectors such as technology have made investors trust Apple less. Added to this are the problems in the global production chain and the rise in interest rates. Shares of the white apple giant have lost 20 percent since January 4, when they reached their highest price in history at $182.94.

The same context of instability, particularly the rise in fuel prices, is what benefits Saudi Aramco’s business. Its shares are up more than 22% so far this year. It even doubled its profits last year. Thus, the Saudi oil company is once again on the podium as the most valuable company on the planet, after Apple stripped it of that title in 2020.

Source: Informacion


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