Apple dethrones oil giant Saudi Aramco as the world's most valuable company
- Apple shares surged as much as 7% on Friday following a blockbuster earnings report on Thursday.
- The tech company's market capitalization briefly overtook Saudi Aramco's on Friday, dethroning the oil giant as the most valuable company in the world.
- Watch Apple and Saudi Aramco trade live on
- Read more on Business Insider.
Apple briefly overtook the oil giant Saudi Aramco as the most valuable company in the world on Friday after posting blockbuster quarterly earnings that sent shares of the technology company up as much as 7%.
Apple's recent tear has sent shares up roughly 39% year-to-date. The company also on Thursday announced a 4-1 stock split, which it said would help it appeal to a broader range of investors.
The split, set to happen on August 24, means investors holding one $400 share will have four $100 shares, Apple said.Read more: RBC lays out 6 trades to make now ahead of a possible Democratic sweep in the elections — and explains why waiting until November is the wrong move
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