Aramco has overtaken Apple as the world’s largest by market capitalization. It’s not that Saudi has gained a crown, so much as that Silicon Valley has lost one, writes TheRealLSL:
Saudi Arabian Oil, also known as Aramco, surpassed Apple on May 11 in market capitalization based on daily closing prices, according to Refinitiv data.
That makes Aramco the world’s biggest company by market capitalization, with a valuation of $2.4 trillion.Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019.
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