It is reported that on Wednesday local time, the market value of oil giant Saudi Aramco surpassed apple to become the world's most valuable listed company If Saudi Aramco's market value is converted into US dollars, it has reached US $2.43 trillion. In Wednesday's trading, Apple's share price fell more than 5% and its market value was only $2.37 trillion.
As investors worried that the economic situation would continue to deteriorate, they sold off stocks in various industries, including the technology industry, while energy prices and energy stocks were rising. Apple's share price hit a high of $182.94 on January 4 and has fallen 20% now.
The reversal of Apple's market value may be symbolic, but it still conveys some signals: interest rate hikes, inflation, comprehensive fermentation of supply chain problems, unpredictable global economy, and the market has responded.
Saudi Aramco's share price has risen by more than 27% since 2022. In March, Saudi Aramco reported that its profit almost doubled last year.
In 2020, apple surpassed Saudi Aramco to become the world's most valuable listed company.