Saudi Aramco close to retaking Apple as most valuable global company

The recent surge in oil prices has lifted Aramco from the low point of its valuation during the COVID-19 pandemic.
A picture taken on Nov. 3, 2019, shows a sign of Saudi Aramco's initial public offering (IPO).
A picture taken on Nov. 3, 2019, shows a sign of Saudi Aramco's initial public offering (IPO) during a press conference by the state company in the eastern Saudi Arabian region of Dhahran. - AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

Saudi’s state-owned oil company is getting close to passing Apple as the most valuable company in the world.

Saudi Aramco’s market value reached $2 trillion on Wednesday. At the same time, US computer giants Apple and Microsoft were valued at more than $2.3 trillion and more than $2.1 trillion, respectively, according to the financial news outlet Bloomberg.

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