Apple Shares Reach New All-Time High, But Saudi Aramco to Overtake as World's Most Valuable Company
Apple shares crossed the $269 mark in intraday trading today, setting a new all-time high for the company.
However, oil giant Saudi Aramco is set to overtake Apple as the world's most valuable company based on market cap after raising $25.6 billion in the world's biggest initial public offering ever, according to Reuters. The shares are expected to begin trading on the Saudi stock market on December 11.
Saudi Aramco only offered a 1.5 percent stake in the company to public shareholders, so the $25.6 billion raised gives it an overall valuation of around $1.7 trillion, topping Apple's market cap of around $1.1 trillion.
Popular Stories
Apple has stopped production of FineWoven accessories, according to the Apple leaker and prototype collector known as "Kosutami." In a post on X (formerly Twitter), Kosutami explained that Apple has stopped production of FineWoven accessories due to its poor durability. The company may move to another non-leather material for its premium accessories in the future. Kosutami has revealed...
The lead developer of the multi-emulator app Provenance has told iMore that his team is working towards releasing the app on the App Store, but he did not provide a timeframe. Provenance is a frontend for many existing emulators, and it would allow iPhone and Apple TV users to emulate games released for a wide variety of classic game consoles, including the original PlayStation, GameCube, Wii,...
The upcoming iOS 17.5 update for the iPhone includes only a few new user-facing features, but hidden code changes reveal some additional possibilities. Below, we have recapped everything new in the iOS 17.5 and iPadOS 17.5 beta so far. Web Distribution Starting with the second beta of iOS 17.5, eligible developers are able to distribute their iOS apps to iPhone users located in the EU...
Apple Vision Pro, Apple's $3,500 spatial computing device, appears to be following a pattern familiar to the AR/VR headset industry – initial enthusiasm giving way to a significant dip in sustained interest and usage. Since its debut in the U.S. in February 2024, excitement for the Apple Vision Pro has noticeably cooled, according to Bloomberg's Mark Gurman. Writing in his latest Power On...
It was a big week for retro gaming fans, as iPhone users are starting to reap the rewards of Apple's recent change to allow retro game emulators on the App Store. This week also saw a new iOS 17.5 beta that will support web-based app distribution in the EU, the debut of the first hotels to allow for direct AirPlay streaming to room TVs, a fresh rumor about the impending iPad Air update, and...
Top Rated Comments
If the remaining 98.5% was available, would they have been able to find investors to buy the stock? I doubt it.
[SPOILER="Video"]
Reminds me of that diamond planet (https://www.forbes.com/sites/petercohan/2012/10/12/diamond-planet-worth-26-9-nonillion/) being valued at '$30 Nonillion' - only it wouldn't be because dumping that much diamond into the market would just make it worthless!