Between Apple And Saudi Aramco it’s a heads up to be there most valuable company in the world. The Cupertino-based company, despite the excellent fiscal results of the last quarter, has been affected in recent months by the crisis of components and inflationary growth which has limited the demand for tech stocks, and at the same time the state-owned oil company of Saudi Arabia has benefited from the increase in the price of oil.
The fact is that Apple’s 3 trillion capitalization last January seems really far away:
The two graphs show how the situation for the two giants is diametrically opposite, albeit linked by a subtle fil rouge (read the Ukrainian conflict). Translating Saudi riyals into dollars, the current situation is as follows:
- Apple capitalization: 2.37 trillion
- Aramco capitalization: 2.36 trillion
Until yesterday the situation was reversed, that is, Saudi Aramco was the most valuable company on the world market with 2.43 trillion capitalization, today the ranking has changed again, with the Californian company returning to the top step of the podium having regained a few percentage points on the stock market. At this very moment one Apple share is worth $ 146.50. Since the beginning of the year AAPL has lost 19.51%while Aramco shares score a + 24.19% (keep in mind that when Apple was worth 3 trillion, Aramco was worth “just” 2).
This is an unequivocal sign of where the market is going. On the one hand, the American Federal Reserve raises interest rates to try to calm inflation, with obvious consequences on the value of the shares that are depreciated, on the other hand the large oil companies increase their revenues thanks to the rise in the price of crude oil. We are comparing two realities belonging to completely different sectorsbut it remains emblematic how the tech world is slowly giving its hand to other industries, primarily energy and raw materials.
It will take time before the tech sector becomes world market leader again: at the moment there are no signs of a turnaround, given the fact that the conflict between Russia and Ukraine is still ongoing and the conditions do not exist now to foresee an end. . So the flow of money out of tech companies and into those like Aramco is destined to continue.
