Apple has become the world’s most valuable public company.
Friday 7th of August, Apple shares
jumped by over 10%.
3 days later, they rose
another 2.5%, leaving Apple
with a $1.86 trillion valuation.
That valuation topped oil giant Saudi Aramco, which had been the most valuable public company since 2019.
Before oil prices crashed due to COVID-19, Saudi Aramco was worth more than $2 trillion.
They are now worth $1.76 trillion.
"Despite COVID-19 headwinds, Apple grew revenue in every segment and geography, beating consensus revenue by 14 percent as ecosystem engagement rises." Via Morgan Stanley.
Apple has proven its ability to adapt
and sustain itself by embracing the
new work-from-home culture.
"We’re conscious of the fact that these results stand in stark relief during a time of real economic adversity for businesses large and small, and certainly for families." Apple CEO Time Cook, via NBC
