Hong Kong (CNN Business) Saudi Aramco has overtaken Apple as the world's most valuable company, underscoring the recent surge in oil prices that have boosted the energy giant this year. Aramco is now worth about $2.43 trillion, compared with Apple's $2.37 trillion, according to data from Refinitiv. Apple AAPL Market capitalizations fluctuate frequently: earlier this year,hit the $3 trillion mark, becoming the first to do so and making it by far the most valuable company on the planet. But the latest market moves point to how the outlook for energy and tech producers have shifted lately.

Source: CNN May 12, 2022 23:41 UTC