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Apple is now the world’s most valuable publicly traded company, passing Saudi Arabia’s state-owned oil company Saudi Aramco. As of close of business Friday, Apple has a market valuation of $1.84 trillion, while Saudi Aramco’s is $1.76 trillion, according to CNBC. Apple’s stock, which has been on a largely-steady climb since the end of March, closed up more than 10 percent on Friday following the company’s record-breaking third-quarter earnings on Thursday, ending the day at $425.04.<\/p>\n Apple’s total revenue for Q3 hit $59.7 billion, up 11 percent from last year. Strong Mac and iPad sales were a highlight, and the company likely saw increased demand for the devices while people have been sheltering in place due to the COVID-19 pandemic. Apple also announced a four-for-one stock split as part of its third quarter earnings, which will lower the price of an individual stock.<\/p>\n Amazon, Facebook, and Google all announced earnings yesterday as well, and for the most part, they had pretty good quarters. Amazon doubled its profit — during a pandemic. Facebook saw a daily user increase of 12 percent year over year to 1.79 billion. And combined, the four companies netted $28.6 billion in profits. As my colleague Liz Lopatto put it, during the pandemic, the tech companies are raking it in.<\/p>\n Tags:<\/b> Jay Peters<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"![](\"https:\/\/cdn.vox-cdn.com\/thumbor\/RzbDwBt8Ty-hZBV1wIZNjpqKCkk=\/0x0:2040x1360\/1310x873\/cdn.vox-cdn.com\/uploads\/chorus_image\/image\/67140788\/acastro_180604_1777_apple_wwdc_0003.0.jpg\")
<\/span><\/span>Illustration by Alex Castro \/ The Verge<\/small><\/p>\nSee Campaign: <\/strong>https:\/\/www.theverge.com\/2020\/7\/31\/21350154\/apple-worlds-most-valuable-company-saudi-aramco<\/a>
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Jay Peters<\/p>\n
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Illustration by Alex Castro \/ The Verge Apple is now the world’s most valuable publicly traded company, passing Saudi Arabia’s state-owned oil company Saudi Aramco. As of close of business Friday, Apple has a market valuation of $1.84 trillion, while Saudi Aramco’s is $1.76 trillion, according to CNBC. Apple’s stock, which has been on a largely-steady … Continue reading Apple is now the world’s most valuable publicly traded company<\/span><\/a> Continue Reading