Apple replaced as world’s most valuable company by oil firm Aramco


A drop in the value of Apple’s shares means oil and gas producer Aramco has regained the title of most valuable company.

Aramco is a Saudi oil giant, and it is the company that Apple unseated in 2020, following a record-breaking earnings report. Aramco itself had only topped the list in 2019, which is when it went public.According to BBC News, Apple lost its position at the top because of a general selling off of stocks in technology firms. Reportedly, investors are moving into energy producers as they are currently seen as safer bets than technology firms.

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