Apple has ceded first place in the world by market capitalization for the first time since 2020

The Apple Corporation has ceded first place in the world by market capitalization - it was overtaken for the first time since 2020, and Saudi oil giant Saudi Aramco did it.
On May 11, shares of \"Apple\" fell by 5%, stopping at about $ 146.5, while Saudi Aramco shares declined much more modestly - only 0.98%, as a result the capitalization of 2.42 trillion dollars was enough to overtake the company from Cupertino.Traders and financial analysts attribute the change in the world leader in market capitalization to rising oil and oil products prices, as well as the pressure on technology corporations by the U.S.
Federal Reserve raising rates.
In such circumstances, many conservative stockbrokers prefer to invest in securities of more stable companies, such as those related to the food industry.However, most analysts have no doubts that Apple will eventually be able to regain its lost throne.
\"Even if the EU approves an oil embargo on Russia, the price of oil will rise again and Saudi Aramco shares will follow it, it will be a temporary phenomenon, while high-tech gadgets have firmly entered the life of modern man,\" writes one trader.
Given that the role of oil as an energy resource and raw material for fuel production in the world will gradually diminish, and it will be used more for the chemical industry, and not in such huge quantities, it is difficult to disagree with him.
Besides, right now there is only one company in the top 5 by market capitalization that does not belong to the high-tech and Internet sector, and that is Saudi Aramco.The post is rewardedThis material was written by a website visitor, and it is rewarded.