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.
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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.
Tag: AAPL
Top Rated Comments
There are far more uses for oil than just automobiles. And the percentage of electric vehicles to internal combustion is miniscule. Oil isn't going anywhere in our lifetime.Why woul you want to invest in oil when most the world’s car manufacturers are going electric. Seems short sighted to me.
If the remaining 98.5% was available, would they have been able to find investors to buy the stock? I doubt it.
Word to the wise, Apple, like virtually every corporation out there, has been taking out low interest loans and epic tax cuts to buy back their own stock for over ten years now, thus artificially boosting share values. It’s great that you have made money from this corporate led, market wide Ponzi scheme (I too have benefited). You just don’t want to be stuck holding shares when the inevitable correction occurs. When that event will happen is anyone’s guess, but happen it will, and many will be caught unawares and will be in great pain financially.Apple stock alone has made me a rich person!
If Tim is in it for the money, then so am I.
This sort of thing always just makes me think of this clip: ?Yes, and also adjusted values give 90s Microsoft the win anyway.
[SPOILER="Video"][/SPOILER]
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!Whilst the 1.7Bn valuation is interesting, I don’t think it’s realistic to value the company based on 1.5% equity.
If the remaining 98.5% was available, would they have been able to find investors to buy the stock? I doubt it.