Apple is promptly the world’s most worthy publicly-traded company, surpassing Saudi Arabia’s state-owned oil corporation Saudi Aramco. As of the close of business Friday, Apple has a business valuation of $1.84 trillion, while Saudi Aramco’s is $1.76 trillion, according to CNBC. Apple’s stock, which has been on a largely-steady grade since the end of March, ended up more than 10 percent on Friday following the company’s record-breaking third-quarter profits on Thursday, ending at $425.04.
So, the total revenue of Apple for Q3 hit $59.7 billion, with 11 percent rise from last year. Record sale of Mac and iPad are a highlight, and the company likely observed an increased demand for the smart devices while people have been hiding in place due to the COVID-19 pandemic. Apple also declared a four-for-one stock division as part of its third-quarter earnings, which will lower the price of an exclusive stock.
Other tech giants including online shopping giant Amazon, Facebook, and Google has announced earnings yesterday as well, which shows that they have pretty good quarters too. Amazon folded its profit — during a pandemic. Facebook saw a daily user rise of 12 percent year over year to 1.79 billion. And when combining, the only four companies netted $28.6 billion in profits.