140th Day Of Lockdown

Maharashtra53560136843518306 Tamil Nadu3086492506805159 Andhra Pradesh2445491547492203 Karnataka1886111055993398 Delhi1461341316574131 Uttar Pradesh126722767212120 West Bengal98459671202059 Bihar8274154139450 Telangana8075157586637 Gujarat71064542382652 Assam5883842326145 Rajasthan5249738235789 Odisha4592731785321 Haryana4163534781483 Madhya Pradesh3902529020996 Kerala3433121832109 Jammu and Kashmir2489717003472 Punjab2390315319586 Jharkhand185168998177 Chhatisgarh12148880996 Uttarakhand96326134125 Goa871259575 Tripura6161417641 Puducherry5382320187 Manipur3752204411 Himachal Pradesh3371218114 Nagaland30119738 Arunachal Pradesh223115923 Chandigarh1595100425 Meghalaya11154986 Sikkim9105101 Mizoram6203230
Business Companies 02 Aug 2020 Apple now world' ...

Apple now world's most valuable company, dethrones Saudi Aramco

ANI
Published Aug 2, 2020, 9:01 am IST
Updated Aug 2, 2020, 2:08 pm IST
Apple rode the company's strong earnings report and its shares closed up by 10.47 per cent on Friday
Apple  surpassed oil giant Saudi Aramco to become the world's most valuable publicly traded company. (ANI Photo)
 Apple surpassed oil giant Saudi Aramco to become the world's most valuable publicly traded company. (ANI Photo)

New York: Apple has surpassed oil giant Saudi Aramco to become the world's most valuable publicly traded company with a market valuation of 1.84 trillion dollars.

Apple rode the company's strong earnings report and its shares closed up by 10.47 per cent on Friday, reports CNBC.

 

Saudi Aramco, which had been the most valuable publicly listed company since its market debut last year, now trails at 1.76 trillion dollars as of its last close.

Apple's strong fiscal third-quarter earnings released on Thursday boosted its stock as investors rallied behind the company's 11 per cent year-over-year growth. It also announced a 4-for-1 stock split.

The company has recovered from its pandemic low-point in March. Shares are up more than 44 per cent this year, said CNBC.

"Despite Covid-19 headwinds, Apple grew revenue in every segment and geography, beating consensus revenue by 14 per cent as ecosystem engagement rises," Morgan Stanley analysts wrote in a research note.

 

Apple saw widespread retail closures during the quarter, especially in the United States, but cited work-from-home trends and strong online sales as delivering a boost to overall operations.

"We are conscious of the fact that these results stand in stark relief during a time of real economic adversity for businesses large and small, and certainly for families," CEO Tim Cook said on a call with analysts.

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT