Apple has been crowned the world's largest capital or most expensive company. The company lost this crown due to the increase in the sale of shares of the investors of the company. And for the first time in two years, Saudi oil company Aramco overtook Apple as the most valuable company. BBC news.
According to a BBC report, stock market investors are now selling shares of technology companies and investing in less risky stocks. Apple shares fell 5 percent on the New York Stock Exchange on Wednesday.
At the end of the day, the company's market capitalization has decreased to 2.37 trillion (one hundred thousand in one trillion) dollars. And at the end of the same day, Saudi Aramco's market capitalization was 2.42 trillion dollars. That's why US-based technology sector company Apple lost the crown of the world's most expensive company to Aramco.
Due to the increase in the price of crude oil and natural gas in the world market, the share price of the companies in this sector has increased in the world stock market. Saudi Aramco has topped the list of the world's most valuable companies for the first time since 2020.
According to the BBC report, Apple's share price on the New York Stock Exchange has fallen by 20 percent since the beginning of this year due to increased sales of technology sector companies. Not only Apple, digital currency Bitcoin is also falling in price. The price of cryptocurrency, the most popular digital currency, has fallen 60 percent since last November.
