How oil giant Saudi Aramco overtook Apple Inc as the world’s most valuable firm

Saudi Aramco dethroned Apple as the world's most valuable company as surging oil prices drove up shares. Aramco traded near its highest level on record with a market capitalization of about $2.43 trillion. Apple, meanwhile, was valued at $2.37 trillion when official trading ended on Wednesday. The iPhone maker fell 5.2% to close at $146.50 per share, giving it a valuation of $2.37 trillion. The sinking share price came despite Apple reporting better-than-expected profits in the first 3 months in 2022. Watch the full video for more.