Apple is no longer the most valuable public company in the world

Unfortunately, Apple fans, your favorite company is no longer the most valuable in the world sold on the stock exchange. Now this honor belongs to the oil company Saudi Aramco. The latter is now worth south of $ 2.43 trillion yesterday after converting its market capitalization to dollars. Apple, on the other hand, was hit hard in the stock market on Wednesday when shares fell 5%.

Over the past five trading days, Apple shares fell $ 13.51 or 8.66%. Immediately after the close of the regular trading session on Thursday, Apple’s market capitalization fell to 2.31 trillion. Since January 4, it set a 52-week high of $ 182.94, Apple’s price has fallen 23%. On the other hand, Aramco shares have risen 27% since the beginning of the year. In March, the company said its year-over-year profit had doubled due to rising oil prices.

In the last few years, Apple became the first American public firm to reach various benchmarks of $ 1 trillion, $ 2 trillion, and $ 3 trillion. When we write about Apple’s valuation, we’re talking about its market capitalization, which is calculated by multiplying Apple’s current share price ($ 142.56) by the number of shares outstanding.

The only other US companies that give Apple money are Microsoft (market capitalization $ 1.91 trillion) and the parent company Google Alphabet (market capitalization $ 1.49 trillion). Apple first went public on December 12, 1980 at a price of $ 22 per share. Since then, the company has split its shares several times, the last taking place in August 2020 (4-1). Taking into account the division of shares, Apple’s IPO price was 10 cents per share.

This means that if you were lucky enough to buy 100 shares of Apple at an IPO price of $ 22, you would now own 22,400 shares of the company worth $ 3.2 million. Apple is no longer the most valuable public company in the world

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