All the Apple fans would be elated to find out that Apple has established itself as the world’s most valuable traded company. It earned the top spot by surpassing Saudi Arabia’s state-owned oil company called Saudi Aramco. On Friday, its approximate business and market valuation was of $1.84 trillion whereas Saudi Aramco stood tall with $1.76 trillion. Ever since the end of March, Apple’s stock has witnessed a steady and consistent climb in numbers – in fact on Thursday it made a record-breaking earning of $425.04!
In Q3, Apple’s total revenue has crosses $59.7 billion which highlights an 11 percent increase from last year. Mac and iPad have continued to gauge strong numbers, but obviously, the most likely reason for this jump has to be the pandemic. People have been forced to work remotely because of the COVID-19 situation and that has surged the demand for Apple products and devices like TYPECASE Touch - iPad 7th Generation and WAITIEE Wireless Charger, etc.
Apple has also made announcement for a four-for-one stock split which is part of its Q3 earnings. This will mostly likely lower the price of an individual stock, at least that’s the common prediction.
Yesterday, Apple wasn’t the only company that announced its Q3 earnings. Amazon, Facebook, and Google also revealed their Q3 revenue – Amazon has as expected doubled its profit; Facebook has observed a 12 percent increase crossing 1.79 billion. The big four companies have netted $28.6 billion in profits, and that too, during a pandemic!