August 9, 2011: Apple overtakes oil giant ExxonMobil to become the world’s most valuable publicly traded company.

The milestone caps an astonishing turnaround for Cupertino. Just 15 years earlier, it looked like it was just about “game over” for Apple.

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%.

Apple just lost the title of world’s most valuable publicly traded company. But not because it had a terrible day on the stock market. The change happened when Aramco, a huge Saudi Arabian oil company, went from private to public.