Saudi Aramco Becomes World's First $2 Trillion Company
Saudi Aramco Becomes
World's First $2 Trillion Company.
The oil producer is now the most valuable
company in the world, with runner-up
Apple being valued at $1.2 trillion.
The company gained roughly
$300 billion in value after
debuting on the Riyadh
stock exchange Monday.
The debut is the biggest initial
public offering on record to date.
Analysts predict the value will drop
in the long term and that the
valuation was "too much, too soon.”.
Aramco could trade in a league of its own for some time, but the stock market is a weighing machine in the long term and the laws of economic gravity will eventually apply.
, Bernstein Research Analysts, via CNN