OdishaPlus Bureau
Apple Inc. is now world’s most valuable company with a market cap of $1.77 trillion. With this achievement, Apple Inc. was able to beat Saudi Aramco, Saudi Arabia’s national oil company. Apple’s market value peaked due to better-than-expected earnings in the stock market. The company saw a 7.1% percent jump in value reaching a record market capitalization of $1.765 trillion.
Prior to Saudi Aramco, the position of world’s most valued company used to switch between Apple Inc. and Microsoft Corp. Microsoft follows close behind with a market capitalization of $1.525 trillion.
With its stock value on a constant rise, the company has announced a four-for-one stock split starting August 31. This implies one share of Apple worth $400 will now be 4 shares worth $100 each, increasing liquidity marking Apple’s first share split since 2014.
