Apple Knocked Off Top Spot as World’s Most Valuable Company Amid Surge in Energy Prices

Apple Knocked Off Top Spot as World’s Most Valuable Company Amid Surge in Energy Prices
Customers shop at apple's flagship store for smart products on Nanjing Road pedestrian street in Shanghai, China, Feb. 23, 2022. Costfoto/file/Future Publishing via Getty Images
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Apple has lost its position as the world’s most valuable company to Saudi Arabian oil and gas producer Aramco amid a broad investor sell-off of tech stocks and a surge in energy prices.

Shares in Apple fell by more than 5 percent in New York on Wednesday to end the trading day with a stock market valuation of $2.37 trillion, slightly below that of Aramco, which was valued at $2.42 trillion.

Katabella Roberts
Katabella Roberts
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Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
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