Apple briefly became the world’s most valuable public company in July 2020.
Apple overtook Saudi Aramco in market capitalization on July 31, 2020, after a sharp rise in its share price. The comparison was especially notable because Saudi Aramco had held the top position after its 2019 listing, while Apple’s valuation benefited from strong technology-sector performance and investor confidence.
Apple’s market capitalization was supported by the iPhone, services, wearables, and a large global user base. Saudi Aramco’s value, meanwhile, was influenced by oil prices, energy demand, and the performance of Saudi-listed shares. Rankings could change again as markets moved.
“World’s most valuable company” in this context means the company with the largest public-equity market capitalization. It does not necessarily mean the largest by revenue, assets, employees, physical output, or profits.