Apple posted impressive Q3 results yesterday as well as announcing a 4-1 stock split. This morning with the market open, AAPL shares hit a new all-time high and now the company’s market value has briefly exceeded Saudi Aramco’s to become the world’s most valuable public company on its way to a $2 trillion market value.

AAPL shares opened up over 6% this morning after the new record June quarter for the company, pushing them over $410 (at the time of writing), a new all-time high for the stock.

Just back in June, Apple hit the new milestone of a $1.5 trillion market cap and the company’s latest stock boost has pushed that it to $1.78 trillion, momentarily surpassing Saudi Aramco as the world’s most valuable publicly-traded company (via Reuters).

Saudi Aramco’s market value was most recently $1.76 trillion and Apple and the oil giant could trade positions back and forth as the world’s most valuable company during trading today.

During Apple’s Q3, the company saw big 11% growth with revenue at $59.7 billion and a profit of $11.25 billion. Contrary to many analysts’ expectations, the pandemic drove more sales than ever of its products, particularly iPad and Mac.

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About the Author

Michael Potuck

Michael is an editor for 9to5Mac. Since joining in 2016 he has written more than 3,000 articles including breaking news, reviews, and detailed comparisons and tutorials.