On the back of rising stock prices, Apple became the world's most valuable public company yesterday.
Apple was able to overtake the oil giantSaudi Arabia Saudi Aramco, whose capitalization was $ 1.762 trillion. It has been the most valuable company in the world since it went public last December. Prior to that, Apple competed with Microsoft for the title of the most valuable public company.
But Apple briefly held on to the title: after a while, the shares dropped to $ 410.68, and the market capitalization fell to $ 1.645 trillion.
According to analysts, the rise in share pricesseveral factors influenced. Firstly, on Thursday Apple reported a record quarterly revenue of $ 59.7 billion. Secondly, the company became one of the American corporations whose heads spoke to Congress.</ p>