Apple is the world's most valuable public company. $2 trillion beckons
Source: CNN
Apple (AAPL) has lapped Saudi Aramco to become the most valuable public company on Earth — and don't expect the rankings to flip again any time soon.
What's happening: Apple shares jumped more than 10% on Friday after the company reported earnings, reaching an all-time high. The stock rose another 2.5% on Monday to $435.75, giving Apple a valuation of $1.86 trillion.
Saudi Aramco, which had been top of the pile since going public late last year, is worth $1.76 trillion. Before oil prices crashed, it was worth more than $2 trillion.
Apple's win: The company's eye-popping run has been powered by its blockbuster results for the April-to-June period. Despite the pandemic, the company posted revenue of $59.7 billion, an 11% increase from the same period last year. It also announced a four-for-one stock split that could help make shares look more affordable.
Read more: https://www.cnn.com/2020/08/04/investing/premarket-stocks-trading/index.html
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