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Apple briefly overtakes Saudi Aramco to become the world’s largest company

FILE PHOTO: The Apple logo is displayed at an event at their headquarters in Cupertino, California, U.S. September 10, 2019. REUTERS/Stephen Lam

(Reuters) – Apple Inc (AAPL.O) shares surged as much as 7.1% to a record high on Friday after reporting blockbuster quarterly results, helping the iPhone maker briefly overtake Saudi Aramco to become the world’s largest public company.

Shares of the company rose to a record high of $412 in early trading. Closing at that level will give it a market capitalization of $1.786 trillion.

Saudi Aramco (2222.SE), which has been the largest public company since going public last year, had a market capitalization of $1.76 trillion as of last close.

Reporting by Subrat Patnaik; Editing by Anil D’Silva

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