Despite the Coronavirus pandemic, Apple is making big wins. This Friday, Apple shares closed up by 10.47 percent, giving it a market valuation of $1.84 trillion. In comparison, Saudi Aramco, which had been the most valuable publicly listed company since its market debut in 2019, now stands at $1.76 trillion.
This news comes after Apple announced strong fiscal third-quarter earnings of $59.7 billion. Apple also announced a 4-for-1 stock split, with shares up more than 44 percent this year.
“We’re conscious of the fact that these results stand in stark relief during a time of real economic adversity,” Apple CEO Tim Cook said of the company’s blowout quarterly earnings.
It appears the company has more than recovered from its pandemic low-point in March.