Apple released its financial report for the third quarter of fiscal 2020 a day ago, with sales of $59.7 billion (11 percent more than last year) and strong hardware sales. According to the report, Apple shares rose 10.47%, which helped the company achieve an astonishing market capitalization of $1.84 trillion (via CNBC), the highest market capitalization in the world.
With this market capitalization, Saudi Aramco and Apple are the most valuable listed companies in the world. Since its IPO, the state-owned company Saudi Aramco has become the world’s most valuable publicly-traded company, and its market capitalization was $1.76 trillion at the close of trading on Friday.
Apple also announced a four-to-one stock split in its quarterly report, which broke the record quarter and shook analysts’ expectations in the wake of the pandemic. The company posted double-digit growth in sales of its products and services in all markets in the June quarter.