Home finance Apple briefly overtakes Saudi Aramco to become the world's largest company

Apple briefly overtakes Saudi Aramco to become the world's largest company

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Apple briefly overtakes Saudi Aramco to become the world's largest company


© Reuters. FILE PHOTO: The Apple Inc logo is seen hanging at the entrance to the Apple store on 5th Avenue in New York

(Reuters) – Apple Inc (O:) shares surged as much as 7.1% to a record high on Friday after reporting blockbuster quarterly results, helping the iPhone maker briefly overtake Saudi Aramco to become the world’s largest public company.

Shares of the company rose to a record high of $412 (313.6 pounds) in early trading. Closing at that level will give it a market capitalization of $1.786 trillion.

Saudi Aramco (SE:), which has been the largest public company since going public last year, had a market capitalization of $1.76 trillion as of last close.

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