Apple is now officially the world’s most valuable company, passing Saudi Arabia’s state-owned oil company Saudi Aramco.
Apple’s stock price has seen exponential growth since March, hitting £425.04 at Friday’s market close. At the time of writing this article, Apple is trading at $441, giving the company a market capitalisation of $1.84 trillion.
Market capitalisation refers to the total dollar market value of a company’s outstanding shares of stock. The figure is calculated by multiplying the total number of a company’s outstanding shares by the current market price of one share.
The latest price rise is likely to be a consequence of Apple’s strong Quarter 3 earnings, the announcement of a 4:1 stock split at the end of this month and the rumoured acquisition of payments company Mobeewave Inc.
Will Apple reach the $2 trillion mark this year?