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Apple pips Saudi Aramco as the world’s most valuable company

Aug 01, 2020 12:16 IST

Apple has overtaken Saudi Arabia’s state-owned oil company, Saudi Aramco, to become the world's most valuable publicly listed company. The California-based tech giant surged over 10 per cent to a record high on July 31 after reporting excellent quarterly results. Apple's stock ended the session at $425.04, putting its market capitalisation at $1.82 trillion. The company’s total revenue for Q3 hit $59.7 billion, up 11 per cent from last year, thanks to a strong Mac and iPad sales.

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