Apple is now the most valuable public trading company in the world. It is now larger than the state-owned oil company in Saudi Arabia.
Apple is now the world’s most valuable public company, surpassing Saudi Arabia’s state-owned oil company Saudi Aramco.
- Apple is now the world’s most valuable public company, surpassing Saudi Arabia’s state-owned oil company Saudi Aramco.
- Facebook’s daily users increased by 12 per cent year-over-year to 1.79 billion.
- Apple announced a four-for-one stock division, which will reduce the prices of an individual share.
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At the close of trading on Friday, Apple had a market cap of $1.84 trillion, while Saudi Aramco was valued at $1.76 trillion, according to CNBC.
Apple Corps’ stock has been on a steady rise since the end of March, closing more than 10 per cent on Friday following the company’s record third-quarter earnings on Thursday, ending the day at $425.04.
Apple’s total revenue for Q3. $59.7 billion, an increase of 11 per cent over the previous year. Strong Mac and iPad sales were a highlight, and demand for the devices increased as people became more and more sheltered from the COVID-19 epidemic.
Apple also announced that the four-for-one share split will lower the price of an individual stock as part of its third-quarter revenue.
Amazon, Facebook and Google all reported earnings yesterday, and for the most part, they had good quarters.
Amazon doubled its profits – during an epidemic. Facebook’s daily users increased by 12 per cent year-over-year to 1.79 billion. In total, all four companies made $28.6 billion in profits. As my colleague Liz Lopato said, during epidemics, technology companies trigger it.
iPhones to become mobile payment terminals
Apple has got a start with technology that can turn iPhones into mobile payment terminals, Bloomberg said. It features Montreal-based Mobeewave technology, which requires only one NFC chip to work, allowing users to type their smartphone or credit card into another phone for payment processing.
Since iPhone 6, NFC chips have been added to the iPhone. Since iPhone 6, NFC chips are included in the iPhone. And while Apple Bay allows shoppers to pay for their iPhones at a retail store, the addition of Mobeewave will allow any iPhone to accept payments without additional hardware such as a card reader.
Bloomberg reports that Apple has paid Mobeewave some $100 million and retained its staff. No company will comment on the transaction. Competing phone maker Samsung partnered with Mobeewave on a pilot point-of-sale project in Canada last year.
As Bloomberg points out, Samsung’s venture division is an investor in Mobeewave.
In March of this year, Apple acquired several launches, including the popular weather app Dark Sky. It seems to integrate the Dark Sky features into its weather app on iOS 14 and has stopped the Android version of the Dark Sky app until August 1st.
Apple also confirmed its acquisition of VR broadcaster NextVR in May.