Oil Giant Aramco Regains Top Spot From Apple as Tech Rally Fades
- Saudi company’s market capitalization overtakes Apple’s value
- Apple’s stock has slumped 17% since peaking in early September
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Saudi Aramco is once again the world’s most valuable company after its market capitalization rose a shade above Apple Inc. amid a slump in U.S. technology shares.
The state oil giant’s stock has gained 1.1% in Riyadh this month, despite Brent crude dropping 12% to below $40 a barrel as concerns about an acceleration in coronavirus infections mount.