Apple briefly overtakes Saudi Aramco to become the world’s largest company

Shares of the company rose to a record high of US$412 in early trading. Closing at that level will give it a market capitalisation of US$1.786 trillion. — Reuters pic
Shares of the company rose to a record high of US$412 in early trading. Closing at that level will give it a market capitalisation of US$1.786 trillion. — Reuters pic

NEW YORK, July 31 — Apple Inc shares surged as much as 7.1 per cent to a record high today after reporting blockbuster quarterly results, helping the iPhone maker briefly overtake Saudi Aramco to become the world’s largest public company.

Shares of the company rose to a record high of US$412 (RM1,750) in early trading. Closing at that level will give it a market capitalisation of US$1.786 trillion.

Saudi Aramco, which has been the largest public company since going public last year, had a market capitalisation of US$1.76 trillion as of last close. — AFP

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