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Apple dethroned as world’s most valuable company

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Bullish Apple analysts aren’t panicking about coronavirus…yet
Wall Street has not been kind to Apple in 2022.
Photo: Brad Gibson/Cult of Mac

Apple is no longer the world’s most valuable company. That honor now goes to the Saudi Aramco oil giant. The Mac-maker had (mostly) held onto the title since 2020, but has now lost it.

So far in 2022, the value of AAPL shares is down 20%, while the share value of the Saudi oil company has surged 25%.

Apple might lose title as world’s most valuable company

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International governments plan to rethink tax rules for the ‘digital age’
Apple is still the world’s most valuable company, but just barely.
Photo: Pixabay/Pexels CC

For a brief period, the Saudi Aramco oil giant took over from Apple as the world’s most valuable company. A rally on Tuesday has since put the Mac-maker back on top, but all it would take is another bad day on Wall Street for Apple to lose the title again.

This comes after Apple has lost over 14% of its value in 2022, while Aramco gained about 28%.

Berkshire Hathaway calls Apple ‘ungodly well-managed’

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Warren Buffett's Berkshire Hathaway remains bullish on Apple.
Warren Buffett's Berkshire Hathaway remains bullish on Apple.
Photo: Kevin Dooley/Flickr CC

Charlie Munger, investment company Berkshire Hathaway’s vice chairman, laid out high praise for Apple during an interview with Yahoo! Finance on Thursday. He called the Cupertino juggernaut “ungodly well-managed.”

He also described Apple as “one of the strong companies” and said he expects it to remain so.

Apple passes Microsoft to again become world’s most valuable company

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Apple passes Microsoft to again become world’s most valuable company
Apple is back on top, with a valuation higher than Microsoft. And Google, too.
Photo: Cult of Mac

A sharp rise in Apple’s share price allowed the Mac-maker to regain the title of publicly traded company with the highest market capitalization n the world. It beat out Microsoft, who’d held the top spot for less than a month.

An unconfirmed report of Apple’s aggressive plans to make self-driving cars helped drive a 6% increase over the past week.

Snap up some cheap AAPL stock while it’s tanking

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AAPL shares took a nosedive on Tuesday
Apple’s stock price went down quite a bit.Perhaps now’s the time to buy
Photo: Cult of Mac

Apple shares spent much of Tuesday down 4% in value. The AAPL selloff was part part of a general drop in tech stocks amidst fears of a rise in interest rates.

At one point during the day, the value of each AAPL stock had dropped about $5.30. That’s a decrease of roughly $88 billion in Apple’s $2.1 trillion market capitalization.

Update: Apple shares finished the day down 3.54%.