Apple has become the most valuable public company in the world. For a little while

With its share price rising yesterday, Apple became the most valuable public company in the world.

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Yesterday

The company's share price rose to a record $412 per share. As a result, Apple's market capitalization grew to $1.786 trillion, making it the most valuable public company.

Apple was able to overtake the oil giantSaudi Arabia Saudi Aramco, whose capitalization amounted to $1.762 trillion. It has been the world's most valuable company since going public in December last year. Before this, Apple competed with Microsoft for the title of most valuable public company.

But Apple did not retain the title for long: after a while, the shares dropped to $410.68, and the market capitalization dropped to $1.645 trillion.

According to analysts, the rise in share pricesseveral factors influenced. Firstly, on Thursday Apple reported record quarterly revenue - $59.7 billion. Secondly, the company was among the American corporations whose heads spoke before Congress.

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