• About
  • Privacy Policy
  • Contact
Tech Newsday
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News
No Result
View All Result
Tech Newsday
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News
No Result
View All Result
Tech Newsday
No Result
View All Result
Home Artificial Intelligence

Apple Lose Position As World’s Most Valuable Company

TND Newsdesk by TND Newsdesk
May 16, 2022
in Artificial Intelligence, Companies, Development, Digital Transformation
0 0
0

Apple has lost its position as the world’s most valuable company due to a broad sell-off of tech stocks.

Investors are now selling shares in technology companies as they invest in less risky assets.

Apple lost its position as the world’s most valuable company to Saudi Arabian oil and gas producer Aramco, worth $2.42 trillion.

Apple shares have fallen nearly 20% since the start of 2022 following a sell-off in technology stocks, but shares in energy producers have risen on the back of higher crude oil and natural gas prices in 2022.

Apple was one of the biggest beneficiaries of the pandemic, as demand for technology products soared, owing to growing dependence on smartphones, tablets, and laptops. In 16 months, Apple’s stock market value jumped from $2 trillion to $3 trillion.

Saudi Aramco, the state-owned oil company, doubled its net profit from $49 billion in 2020 to $110 billion in 2021, and the reopening of post-pandemic economies led to a sharp rise in energy prices in 2021, leading to a surge in Aramco shares. The ongoing war in Ukraine has also pushed prices even higher with countries seeking alternatives to Russian oil.

The sources for this piece include an article in BBC.

Tags: Apple

Subscribe

About Tech News Day

In just 10 minutes you will have all your leadership tech news needs covered. Our Editors browse the top tech news sites for you, get rid of the fluff and post summaries of the best. Our content is created by trained professionals and enhanced for IT leaders using leading edge artificial intelligence.

About

Tech Newsday

Tech News Day picks the new, most relevant tech stories.

Our selection is done by industry professionals – executives like you who pick the top stories for that day. Our writers summarize these to give you a quick summary and the key takeaways.

SUBSCRIBE

Categories

  • Artificial Intelligence
  • Auto Tech
  • Blockchain
  • Careers & Education
  • Channel Strategy
  • Cloud
  • Communications & Telecom
  • Companies
  • Data & Ananytics
  • Development
  • Digital Transformation
  • Distribution
  • Diversity & Inclusion
  • eCommerce
  • Emerging Tech
  • End User Hardware
  • Engineering
  • Financial
  • Future of Work
  • Governance
  • Government & Public Sector
  • Human Resources
  • Infrastructure
  • IoT
  • Leadership
  • Legal
  • Legislation & Regulation
  • Managed Services & Outsourcing
  • Marketing
  • Mobility
  • Open Source
  • Operations
  • People
  • Podcasts
  • Privacy
  • Security
  • Service
  • SMB
  • Social Networks
  • Software
  • Supply Chain
  • Today's News
  • Top Stories This Week
  • Women in Tech
  • Home
  • Today’s News
  • About
  • Privacy
  • Contact

2022 Tech News Day

No Result
View All Result
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News

2022 Tech News Day

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Why are you leaving?

About Tech News Day

Tech News Day is a daily publication featuring key daily news stories about technology and how it affects businesses. We know that you are busy and that there’s a lot of information coming at you. While there are lots of programs that will curate based on what you have already read or followed, Tech News Day picks the new stories that we feel are most relevant.

Our selection is done by industry professionals – executives like you who pick the top stories for that day. Our writers summarize these to give you a quick summary and the key takeaways. If you want to do a deeper dive and get even more information, we provide a link to at least one of the longer stories from one of our sources (we are often following stories from more than one source).

We also have a daily podcast, published each morning so that you can get the news stories of the day from wherever you get your podcasts.

We hope you find this to be useful to you in keeping up to date in these challenging times. We love your input and opinions. You can use our feedback widget to rate individual stories or you can write us at NewsDesk@technewsday.com.

Click Here

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00