September 27, 2022

Saudi Aramco eclipses Apple to once again become the world’s most valuable company

2 min read

Hong Kong
CNN Business

Saudi Aramco has overtaken Apple to become the world’s most valuable company. Rising oil prices Which has promoted the giant of energy this year.

Aramco now stands at about 43 2.43 trillion, compared to Apple’s 3 2.37 trillion, according to Refinitiv.

Market capitalization fluctuates frequently: earlier this year, Apple

Hit it 3 trillion Mark, to be the first to do so and to make it the most valuable company on the planet.

Aramco also on one occasion He grabbed the sheet After a historical Initial public offering In 2019, which raised its value to $ 2 trillion.

But the latest market trends point to a recent shift in energy and tech producers’ attitudes.

Oil prices have risen this year. Record heightsEspecially On concerns About the barriers of Supply from Russia Since then Attack on Ukraine.

Brent CrudeWorld standards have risen about 36% so far this year, and were last trading at 6 106.2 a barrel.

It has pleased players like Saudi Aramco, whose shares have risen 27% so far this year.

Apple stock, meanwhile, has fallen more than 17% since January.

The iPhone maker has recently been hit hard by the supply chain crisis, especially in China, where many of its suppliers have factories. Caught temporarily In the country’s coveted lockdown.

Last month, Apple warned of major losses due to the ongoing situation, saying production and logistics issues could affect its sales of 4 4 billion to 8 8 billion this quarter.

Apple’s barriers were “primarily centered around the Shanghai Corridor,” CEO Tim Cook said in a statement.

Dan Ives, managing director of equity research at Wadebush Securities, called the impact of the lockdown “albatrosses for the June quarter,” a report said Apple’s supply chain concerns in China could potentially hurt investors in China. There will be “most trouble”. Short term.

But concerns could be “lessened” in the second half of the year, when the company is expected to launch a new iPhone 14, he added.

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