Apple has lost its position as the most valuable company, falling behind Saudi Aramco

Saudi Aramco covered Apple as the world’s most valuable company on Thursday. On Wednesday, the Aramco stock market was slightly below $ 2.43 trillion, according to FactSet, which translates its market value to dollars. Apple, which fell more than 5% during trading in the US on Thursday, is currently valued at $ 2.37 trillion. Apple’s stock market shift to its core, and the business is no longer cost effective. Energy stocks and bonds are rising as investors sell companies in many industries, including technology, due to concerns about the economy. Since hitting a high of $ 182.94 on January 4, Apple has dropped roughly 20%.

The move is a huge signal, but it shows how markets are changing as the global economy collapses with rising interest rates, inflation, and supply chain problems. Aramco stock is up 27% so far in 2022. In March, oil giants reported that its full profit last year more than doubled due to increased oil prices. Apple surpasses Saudi Aramco to become the world’s most valuable publicly traded company by 2020.

Among the most important announcements made by Google during the Google I / O 2022 Developers Forum are those about disaster preparedness and safety. And, with great emphasis on the Pixel Watch and Wear OS in general, a lot of great announcements were made. Among these, according to recent sources, is the development of Earthquake Alerts and SOS Emergency Services for Wear OS devices. The second of the two functions is a new base and will not be limited to the new Pixel Watch. Google hopes to fully launch the app in the fall. To summarize, SOS Emergency makes Wear OS a smartwatch service activated by the user. It allows users to call family members or emergency services in their area with minimal input.

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