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Apple is not the most valuable company in the world anymore: it gives its position to an oil company


the oil group Arabi Aramco detrone Apple from the top of the ranking of the world’s stock market capitalization, due to the rise in crude oil prices and the fall in technological value.

Arabi Aramco, the national hydrocarbon company Saudi Arabiareached 2.43 trillion dollars in value, according to figures from Bloombergsurpassed iPhone Maker which fell by $ 2.371 billion.

Technology companies have suffered in the stock market due to the rate increase in the United States.

Shares of the Saudi company, which has been listed on the Riyadh stock exchange since the end of 2019, closed at 45.50 rial, down 0.98% on the day, but up 27% since the beginning of the year thanks to the rise in oil. prices favor energy companies.

technological fall

In January, in the midst of an optimistic cycle on Wall Street, Apple It was the first company to exceed $ 3 billion in capitalization.

Since then, the Nasdaq technology index has lost more than 25%. (AFP)

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