Business Slide Aramco, Apple is Now the Most Valuable Company...

Slide Aramco, Apple is Now the Most Valuable Company in the World

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NEW YORK, KOMPAS.com – price stock Apple Inc. experienced a jump of more than 10 percent at a record high on Friday (07/31/2020), after reporting that its income increased 11 percent in the June 2020 quarter.

Spike stock price This makes Apple now a company listed on the most valuable Sahama exchange in the world, overtaking Saudi Aramco’s position.

Quoting from Reuters, Saturday (1/8/2020), Apple shares ended at 425.04 dollar AS with a market capitalization of 1.82 trillion dollar US in trading on Wall Street, Friday (07/31/2020) local time.

Also read: Apple Extends WFH Policy to Early 2021

This surge in stock prices was the biggest jump for Apple since March 13, 2020 and added 172 billion US dollars of market capitalization during the session. This figure is even greater than the entire market value of Oracle Corp.

While Saudi Aramco has become the most valuable public company since go public last year, had a market capitalization of 1.76 trillion US dollars based on Refinitiv data.

After Apple bought back shares or buybacks worth 16 billion US dollars in the quarter ended June 2020, Apple has 4,275,634,000 shares outstanding, based on data as of July 17, 2020.

With the acquisition of shares on Friday, Apple’s share price has jumped about 45 percent since the start of this year. Apple also announced plans to split stock or split the value with a 4: 1 ratio with trade that began on August 31, 2020.

This will be Apple’s first stock split since 2014.

More than 20 analysts raised their price targets for Apple shares after the company’s latest report, according to Refinitiv. However, the new median analyst target price for Apple shares at 409.63 US dollars per share, this figure is 15 dollars lower than the closing price on Friday (7/31/2020).

Also read: This is the reason Pertamina failed to cooperate with Aramco in Cilacap Factory

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