Riyadh — Saudi Aramco briefly led the list of largest companies by market capitalization on Tuesday with a market value of $2.464 trillion. Aramco surpassed US tech giant Apple Inc.’s value of $2.461 trillion.
Recommended: 3 Million Passengers Used Saudi Trains in Q1 2022
Shares of the Saudi oil giant hit their highest level at SR46.20 during early trading on Tuesday on the Saudi Exchange (Tadawul).
Recommended: SAMA Raises The Base Rate by 50 Basis Points
Saudi Aramco’s stock price retreated slightly later in the day to trade at SR46.05. The reduced value means a market valuation of SR9.21 trillion.
Recommended: Saudi Arabia’s Q1 2022 GDP Stands at 9.6%; The Highest Rate Since 2011
The company is now the second-largest firm by market cap after Apple with the latest share movement.
Saudi Aramco has constantly been hitting record highs, thanks to high oil prices that continue to soar.
Recommended: Saudi Arabia is Ranked Sixth Among G20 Countries in Terms of Market Value, According to CITC
Microsoft stands at the third position with a market value of $1.978 trillion.
Comments are closed.