Despite coming out with better results at the beginning of the year despite the epidemic, tech company Apple has now surpassed Saudi Arabian oil company Saudi Aramco to become the world’s most valuable company with a market cap of $ 184,000 million.

According to a CNBC report, Apple shares rose 10.47 percent as of Friday with better turnover, making Apple the most valuable publicly traded company in the world, beating the world’s largest oil company. . Saudi Aramco currently has a market cap of $ 176,000 million.

Apple’s supply chain was affected due to the Corona epidemic and due to this, the iPhone manufacturing company had to close all its retail stores across the world, but despite all this, the company’s shares rose by 44 percent this year.

Apple made a turnover of $ 59.70 billion in the third quarter of its fiscal year 2020, an increase of 11 percent from the year-ago quarter. Due to the excellent results of the June quarter, the company’s shares have seen this rise. At the close of trading on Friday, Apple’s stock price rose to $ 425.04. With this, the market capitalization of the company increased to 1.82 trillion dollars.

This was the biggest increase recorded in one day since March 13. The company’s market capitalization increased by $ 172 billion in the entire trading session on Friday. This figure exceeds the entire market capitalization of Oracle Corp.

Apple has announced excellent results for the June quarter. According to Refinitiv, more than 20 analysts have increased the target price of Apple’s stock after the excellent results.