Saudi Aramco: The world’s most valuable company, surpassing Apple, achieved this position.

Talking about the most valuable companies in the world, till now the smartphone maker Apple was at the top, but now this position has been snatched from it. After the latest change, Saudi Aramco has now registered this achievement in its name by overtaking Apple. The company’s valuation has increased to $2.42 trillion.

Aramco is the largest oil producer

Significantly, the name of Saudi Aramco comes at the top of the world’s largest oil producing companies and the continuous jump in oil prices has also affected its valuation. The report said that the company has benefited from inflation and limited supply on oil prices. Due to all this, Aramco’s net increased by 124 percent to $110.0 billion in 2021 from $49 billion in 2020.

Apple’s price is so low

Let us inform here that Apple, a company of three trillion dollars, has been suffering continuously for some time. The company’s valuation fell to $2.37 trillion on Wednesday due to a strong fall in the company’s shares. Saudi Aramco benefited from this, the company’s stock went up and it overtook Apple.