Technology giant Apple lost the title of “The most valuable company in the world” to Saudi Arabian oil company Aramco two years later. Apple shares fell more than 5 percent in New York on Wednesday, closing the trading day with a $2.37 trillion stock market valuation. Aramco, the national oil company of Saudi Arabia, has been at the top of the world with the title of “The Most Valuable Company in the World” for almost 2 years. The famous technology giant has left Apple behind.
The Summit Was Aramco
Apple shares fell more than 5 percent in New York on Wednesday, closing the trading day with a $2.37 trillion stock market valuation. Thus, the title of the world’s most valuable company passed to Aramco, the oil and gas producer with a value of 2.42 trillion dollars.
They Started Selling Shares
According to the news in the BBC, investors are selling their shares in technology companies as they turn to assets they see as less risky.