Apple is now the world’s most valuable publicly traded company
Published on: 2020-08-03 07:48:09 | Category: Business | By: admin
Apple is currently the most successful publicly trading firm in the country, heading past the state-owned Saudi Arabia energy company Saudi Aramco. Apple has a market cap of $1.84 trillion as of closing business Friday, while Saudi Aramco's is $1.76 trillion, according to CNBC. Apple 's price, which has been on a relatively steady rise since the end of March, closed more than 10 per cent on Friday after Thursday's record-breaking third-quarter earnings, closing the day at $425.04.
Total sales from Apple for Q3 was $59.7 billion, up 11 per cent from last year. Solid Mac and iPad sales were a success, and the company's appetite for the machines was undoubtedly boosted as people were sheltering due to the COVID-19 pandemic. Apple has also announced a four-for-one share split as part of its third-quarter results that would lower an individual stock's valuation.
Amazon, Facebook, and Google all reported results yesterday and they had pretty good quarters for the most part. During a pandemic Amazon doubled its income. Facebook reported a 12 percent year-over-year rise in usage per day to 1.79 billion. Yet, together, the four firms have netted revenues of $28.6 billion. As my friend Liz Lopatto put it, the tech firms rack it in during the pandemic.