News ID: 81292
Date: 01 August 2020 - 22:08
LONDON (Reuters) - Apple Inc’s surged over 10% to a record high after reporting blockbuster quarterly results, helping the iPhone maker eclipse Saudi Aramco to become the world’s most valuable publicly listed company.
Apple’s stock ended the session at $425.04, putting its market capitalization at $1.82 trillion, according to the share count provided by Apple in a regulatory filing on Friday.
It was Apple’s largest one-day percentage gain since March 13, and it added $172 billion in market capitalization during the session, greater than the entire stock market value of Oracle Corp.
Saudi Aramco, which had been the most valuable publicly listed company since going public last year, had a market capitalization of $1.760 trillion as of its last close, according to Refinitiv data.
After Apple bought back $16 billion worth of shares in the June quarter, it had 4,275,634,000 outstanding shares, as of July 17, according to the filing.