Apple became the most valuable company on the planet

American Apple has become the most valuable company in the world. Its capitalization on the background of rising shares due to strong reporting reached $ 1.77 trillion, which exceeded the value of the Saudi oil company Saudi Aramco.

This is evidenced by the trading data on Friday, July 31st.

As of 18.08 Kiev time, Apple shares rose 6.51% to $ 409.81 per share, based on this value, the company’s capitalization is about $ 1.77 trillion. At the same time, the capitalization of Saudi Aramco is approximately $ 1.76 trillion.

On Friday night, Apple, along with a number of other technology companies, reported its financial results for the quarter. According to the results of the third quarter of 2019-2020 fiscal year, net profit increased by 12% – to $ 11.253 billion.Diluted earnings per share amounted to $ 2.58 against $ 2.18 a year earlier, the forecast was $ 2.04. The company’s revenue for the reporting period increased by 11% – to $ 59.685 billion against the forecast of about $ 52.2 billion.