Across the world, only two companies are worth $2 trillion, Apple Inc in the United States and Saudi Aramco in the Kingdom of Saudi Arabia.
Bloomberg reports that Apple Inc joined Saudi Aramco in the revered group on Wednesday, August 19, when its 2020 stock surge pushed the market value over $2 trillion.
The rapid growth was attributed to the company’s expansion of its hardware ecosystem with more iPhones and new Apple Watches and AirPods.
The technology giant also launched digital services and leveraged its base of 1.5 billion devices to generate more recurring revenue.
Meanwhile, the new feat has solidified Apple’s position as the most valuable company in the world. This is as Saudi Aramco which briefly boasted a $2 trillion valuation in December has dropped to about $1.8 trillion following the drop in shares of Saudi Arabia’s national oil company.
Below is a brief list of some of the most valuable companies in the world:
1. Apple Inc – $2 trillion
2. Saudi Aramco – $1.8 trillion
3. Amazon.com Inc – $1.7 trillion
4. Microsoft Corporation – $1.7 trillion
Meanwhile, a report by The Cable indicates that Apple’s net worth is now higher than the entire Gross Domestic Product (GDP) of the entire 48 countries in sub-Saharan Africa which includes Nigeria and South Africa. the largest economies on the continent.