Apple is now the world’s richest company, beating Saudi Aramco

KOMPAS.com – In 2018, Apple became the first US company to touch market capitalization 1 trillion US dollars or around Rp. 14,500 trillion (the rupiah exchange rate at that time). Two years later, that figure had doubled.

Now, the company bearing the bitten apple logo has earned a market capitalization of 2 trillion US dollars, or around Rp 29,400 trillion (the rupiah exchange rate at the time of writing).

This achievement earned Apple the title of the richest company in the world today, seizing the title previously held by non-technology companies. Saudi Aramco.

This figure was achieved by Apple thanks to the value of Apple’s shares which reached US $ 467.77 (around Rp. 6.9 million) per share, multiplied by more than 4.2 billion shares outstanding according to the latest report.

Also read: Defeating Saudi Aramco, Apple Becomes the Highest Value Company

Apple’s share value per share crept thin before the announcement of the market capitalization report.

Starting with 464 US dollars (around Rp. 6,842,000) to 467 (around Rp. 6,887,000), then heading for 467.97 (around Rp. 6,900,000 million), until it touches 468.65 US dollars (around Rp. 6,914,000) ).

Technically, Apple is the second company in the world with a market capitalization of US $ 2 trillion.

Previously, the Saudi Arabian oil company, Saudi Aramco, became the first company in the world to reap the market capitalization value in December 2019. Saudi Aramco’s valuation has been slowing down due to the impact of the Covid-19 pandemic.

The pandemic that has made the travel industry crash, has plunged oil prices. However, summarized KompasTekno from Venture Beat, Thursday (20/8/2020), Saudi Aramco is said to be able to reach 2 trillion US dollars again before Apple reaches it too.

Meanwhile, Apple’s rival technology firms, such as Alphabet, Amazon and Microsoft, have hit a market capitalization of $ 1 trillion and are trailing Apple’s new records.

Also read: Apple, Facebook, and TikTok Subject to 10 Percent VAT Starting September 1

In the midst of the global pandemic that never ended, Apple still posted strong earnings in the last two quarters.

Some analysts predict this positive trend will continue going forward. This is because Apple devices such as Macs and iPads are still needed to support work and study from home, which is currently still being applied by various countries in the world.

Plus other service sectors, such as Apple’s streaming media, guarantees, and Apple’s payment services also boost Apple’s achievements.

Previously, Apple announced it would do stock split or splitting stock par by a 4: 1 ratio at the end of August 2020. Apple says its goal is to make stocks more accessible to more investors.

– .