About Us
Privacy Policy
Monday, May 29, 2023
No Result
View All Result
Marketing Mind
Advertisement
  • Home
  • What’s Buzzing
  • Marketing
  • Advertising
  • Startup
  • Campaigns
  • Digital Media
Marketing Mind
No Result
View All Result

Saudi Arabian Energy Giant Aramco Surpasses Apple To Become Most Valuable Company In The World

Zainab Kantawala by Zainab Kantawala
May 13, 2022
in Finance, What’s Buzzing
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter

Saudi oil-giant Aramco has surpassed tech giant Apple, to become the most valued company globally. This has come after the company’s share rose to 46.20 riyals, bringing the market value to $2.464 trillion (9.24 trillion riyals), while Apple was valued at $2.461 trillion.

According to reports, Apple’s market value peaked on 4th January 2022 at $2.960 trillion, after which it has been on a downhill losing almost $484 billion. Though Aramco’s financial reports for the first quarter of 2022, are yet to be out, the profits of the Saudi company saw a peak for the year 2021, especially after its inclusion in the Saudi financial market, due to the rise in oil prices.

Also, a tech-stock sell-off hurt the iPhone maker, inspite of it being the first company in January to hit the $3 Trillion market. Apple has fallen nearly 20% since its peak, and more than 5% on Wednesday to the lowest point since October 2021.

The company’s net profit amounted to 412.4 billion riyals ($109.95 billion) for 2021, exhibiting a growth percentage of 124.4% compared to the previous year. The company announced distribution of cash dividends to shareholders of 70.33 billion riyals ($18.75 billion) for the fourth quarter of 2021.

This is a sign of old economies reasserting itself, with Aramco beating Apple, who in 2011 has surpassed another Energy giant ExxonMobil to become the world’s most valuable listed company. Since that year, Apple, Microsoft, Google’s owner Alphabet and Amazon have dominated stock markets, with only Aramco being a regular on the most valued list.

Though the value of both the companies could change again due to share price fluctuations, this goes to show that the energy sector is booming.

ShareTweet
Previous Post

Creative Automobile Billboards That Made Heads Turn And Take Notice

Next Post

4 Mothers Who Started Their Food Ventures After 60 Years Of Age

Zainab Kantawala

Zainab Kantawala

Related Posts

Finance

India Ranks 26th In E-commerce Entrepreneurship Impact: Shopify Entrepreneurship Index

Listicles

Top 50 Innovative Companies of 2023: Unveiling the Most Cutting-Edge Businesses

What’s Buzzing

Hayden Bowles: The 22-Year-Old Who Achieved ‘Millionaire’ Status

What’s Buzzing

From Mumbai’s Slums to Luxury Brand Ambassador: The Inspiring Journey of a 14-Year-Old Girl

Partner

Here’s How Amazon miniTV Made Brands To Have An Interesting Banter On Social Media For ‘Yeh Meri Family: Season 2’ 

What’s Buzzing

LinkedIn Rolls Out New Features – Verification For Job Posts & Message Warning To Dispel Scams

Next Post

4 Mothers Who Started Their Food Ventures After 60 Years Of Age

Recent Posts

  • India Ranks 26th In E-commerce Entrepreneurship Impact: Shopify Entrepreneurship Index
  • Top 10 Real Estate Billionaires In India: Meet The Wealthiest Property Tycoons
  • Brands Celebrated Shubman Gill’s Remarkable 100 vs Mumbai With Creative Posts
  • Top 50 Innovative Companies of 2023: Unveiling the Most Cutting-Edge Businesses
  • Discover The Top 7 Metaverse Influencers Shaping The Future Of Digital Realms

Categories

  • Advertising
  • Automobile
  • Banking
  • Business
  • Business Models
  • Campaigns
  • Career
  • Creative Ads
  • Cryptocurrency
  • Digital Media
  • Editorial Opinions
  • Education
  • Events & Entertainment
  • Finance
  • Food
  • Health & Medicine
  • Industry
  • Influencers
  • Interviews
  • Lifestyle
  • Listicles
  • Marketing
  • Media
  • Misc
  • Moment Marketing
  • Movie Marketing
  • NFTs
  • Offbeat
  • OTT
  • Partner
  • People
  • Reviews
  • Startup
  • Success Stories
  • Technology
  • Telecom
  • Travel
  • Video
  • Viral Ads Now
  • What’s Buzzing
Facebook Twitter Instagram Youtube LinkedIn
Marketing Mind

Copyright © 2019 RVCJ Digital Media Pvt Ltd

Follow us on social media

Recent News

  • India Ranks 26th In E-commerce Entrepreneurship Impact: Shopify Entrepreneurship Index
  • Top 10 Real Estate Billionaires In India: Meet The Wealthiest Property Tycoons
  • Brands Celebrated Shubman Gill’s Remarkable 100 vs Mumbai With Creative Posts

©2023 Copyright. RVCJ Digital Media Pvt Ltd.

No Result
View All Result
  • Home
  • Banking
  • Investing
  • Insurance
  • Retirement
  • Taxes

©2023 Copyright. RVCJ Digital Media Pvt Ltd.

 

Loading Comments...