An Arab company becomes the third largest company in the world in terms of market value

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An Arab company becomes the third largest company in the world in terms of market value

Reuters

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The shares of the Saudi oil company “Aramco” rose yesterday, Wednesday, against the backdrop of the rise in energy prices in the global markets, which raised the market value of the Saudi company to 2 trillion dollars.

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Market value of

Thus, the Saudi Oil Company ranked third in the classification of international companies in terms of market value.

The rating is led by the American electronics company “Apple”, and the market value of the American giant is $2.35 trillion, meaning that “Aramco” is separated by $350 billion from “Apple”.

The American company “Microsoft” came in second place, and the company’s market value, according to a report published by “Bloomberg” agency, amounted to about 2.18 trillion dollars.

The shares of the two giant companies are a symbol of how the global economy has changed this year, as Apple shares suffered as consumers curbed spending on home entertainment and began to return to normal life, while the recovery of the transportation sector led to a boom in oil prices that directly feeds Aramcos profits. .

There is reason to believe that Aramco can continue to climb. Bank of America analysts said the global energy crisis could help push oil prices above $100 a barrel, for the first time since 2014.

Meanwhile, Apple is under pressure as investors become cautious about expensive technology stocks amid rising bond yields.

Source: Bloomberg





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