Correct Answer : Option (D) - Saudi Aramco
Oil magnate Saudi Aramco on Thursday(12th May 2022) overtaken Apple as the world's most valuable company, underscoring the recent surge in oil prices that have boosted the energy giant this year.
Aramco is now worth about $2.43 trillion, compared with Apple's $2.37 trillion, according to data from Refinitiv.
Market capitalizations fluctuate frequently: earlier this year, Apple (AAPL) hit the $3 trillion mark, becoming the first to do so and making it by far the most valuable company on the planet.
Aramco at one point also held that mantle after a historic initial public offering in 2019, which propelled its valuation to $2 trillion.
But the latest market moves point to how the outlook for energy and tech producers have shifted lately..
Source : CNN
Published On : May 13, 2022
Category : Business and Economics
