Apple surpasses Saudi Aramco as world's most valuable publicly-traded company

Riding on strong quarter results despite the pandemic, Apple has surpassed Saudi Aramco to become the worlds most valuable company with a market cap of $1.84 trillion.

San Francisco: The strong earnings report helped Apple shares closed up 10.47 per cent to become the world's most valuable publicly-traded company, surpassing the largest oil producer, reports CNBC.

Apple surpasses Saudi Aramco as world's most valuable publicly-traded company

Apple surpasses Saudi Aramco as world's most valuable publicly-traded company

"Apple's record June quarter was driven by double-digit growth in both Products and Services and growth in each of our geographic segments," said Apple CEO Tim Cook.

"In uncertain times, this performance is a testament to the important role our products play in our customers' lives and to Apple's relentless innovation," he said in a statement.

The iPhone sales were $26.4 billion, iPad revenue was $6.6 billion while Mac revenue reached $7.1 billion.

(Inputs from IANS)