From Subrat Patnaik and Noel Randewich
July 31 (Reuters) – Apple Inc’s AAPL.O stock hit a record high on Friday after reporting blockbuster quarterly results, helping the iPhone manufacturer temporarily petitioned Saudi Aramco to develop into the planet’s most prized publicly listed firm.
Apple’s stock jumped to as large as $412.22 a talk, putting its market capitalization at $1.762 trillion, according to the share count given by Apple at a regulatory filing on Friday.
Saudi Aramco 2222.SE, that has become the most valuable publicly listed firm since going public last year, had a market capitalization of $1.760 trillion due to its final close, based on Refinitiv data.
Last up 6.2% at $408.78 in midday trading, Apple’s market capitalization stood at $1.748 trillion. Once Apple bought back $16 billion worth of stocks in the June quarter, it had 4,275,634,000 outstanding shares, as of July 17, according to the filing.
With Friday’s stock profit, Apple’s has jumped approximately 40% year to date, with investors betting that it along with other important U.S. tech business emerge in the coronavirus pandemic more powerful than smaller competitions.
In its quarterly report, Apple declared a four-for-one stock divide, with trading on a split-adjusted foundation beginning on Aug. 31. It’ll be Apple’s initial share split because 2014.
Apple temporarily becomes world’s most precious companyhttps://tmsnrt.rs/316GaZC
(Reporting by Subrat Patnaik and Noel Randewich; Editing by Anil D’Silva and Jonathan Oatis)
((noel.randewich@tr.com; (415) 677 2542; Reuters Messaging: Twitter: @randewich))
The perspectives and opinions expressed herein are the opinions and views of the author and don’t necessarily reflect those of Nasdaq, Inc.
