(EFE) – Saudi oil company Aramco stood again this Wednesday as the world’s most valuable company by overcoming Apple thanks to one sharp rise in its share price in recent months and at falls in the stock market that accumulates the US technology sector.
With a market capitalization of $2.42 trillionAramco recovered today – at least for a day – a title that Apple had taken from it in 2020.
Since then, the American company had remained the most valuable listed company in the world, reaching earlier this year exceed 3 trillion dollars in market capitalization.
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Hoy, Apple’s stock market value fell to $2.37 trillionafter collapsing more than 5% during the Wall Street session, where it accumulates so far this year a recoil of almost 20%.
Aramco, which is listed on the Saudi stock exchange, has meanwhile gained 28% since 2022 begana year that so far has been especially good for the oil companies thanks to the rise in the price of crude oil and fear of a slowdown in the world economywhich has led many investors to flee from securities considered to be more risky, such as technological ones.
Apple and other giants Silicon Valley had been just some of the big winners since the start of the pandemicso today’s change in the list of most valuable companies illustrates the turn that has occurred under the new economic situation.
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