Apple just got dethroned as the world's largest public company after Aramco's dizzying $ 1.9 trillion IPO – Business Insider, Business Insider

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Apple just got dethroned as the world’s most valuable public company.

Apple was valued at $ 1.2 trillion after Tuesday’s close.On Wednesday it was overtaken by the oil giant Saudi Aramco.

Aramco surged (********************************************************% on its opening day and is now worth just shy of $ 1.9 trillion.

Aramco’s valuation also is worth more than BP, Royal Dutch Shell, Exxon Mobil, and Chevron combined.

If Aramco were a country, it would have the ninth-largest gross domestic product, ahead of Brazil and Canada and just short of Italy .

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Apple was dethroned as the world’s largest public company Wednesday after the oil giant Saudi Aramco started trading publicly.

Aramco surged (% – the daily limit – on its opening day

and is now worth just shy of $ 1.9 trillion. Apple was valued at about $ 1.2 trillion after Tuesday’s close.

Aramco earlier this week raised $ 25 .6 billion in its initial public offering, which valued the company at $ 1.7 billion.

Apple had held the top spot since February, with Microsoft not far behind the Silicon Valley tech giant, and also became the first company in the word to be valued at ($ 1 trillion in August) ************************************

Aramco’s mammoth valuation is also nearly a billion more than that of its competitors BP, Royal Dutch Shell, Exxon Mobil, and Chevron combined ($ .6 billion).

Last month, Markets Insider reported thatApple was worth more than the entire US energy sector. At the time Apple was worth $ 1. 25 trillion, and the S&P (Energy index was worth only $ 1.) trillion. Aramco’s valuation now dwarfs this figure.

The $ 1.9 trillion figure also means that if Aramco were a country, it would have the ninth-largest gross domestic product, ahead of Brazil and Canada and just short of Italy.

Markets Insider

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