August 2020

Apple Is Now the World's Most Valuable Public Company

On Friday, Apple shares jumped by over 10%. On Monday, they rose another 2.5%, leaving Apple with a $1.86 trillion valuation. That valuation topped oil giant Saudi Aramco, which had been the most valuable public company since 2019. Before oil prices crashed due to COVID-19, Saudi Aramco was worth more than $2 trillion. They are now worth $1.76 trillion. Despite COVID-19 headwinds, Apple grew revenue in every segment and geography, beating consensus revenue by 14 percent as ecosystem engagement rises, Via Morgan Stanley. Apple has proven its ability to adapt and sustain itself by embracing the new work-from-home culture. We’re 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, Apple CEO Time Cook, via NBC.