Apple is no longer the most valuable company in the world

The rise in interest rates in the US has had exacerbated impacts on the financial market, and Apple is also feeling it. The iPhone maker fell by US$ 350 billion (R$ 1.8 trillion, in the current conversion) in its value, which made the Arab oil company Saudi Aramco take the lead and occupy the position of the most valuable company in the world.

Saudi Aramco is going through an opposite moment to Apple, as during this year it saw its shares jump 25%, resulting in a market value of US$ 2.39 trillion. In the case of Apple, with the loss mentioned above, it now has US$ 2.37 trillion (R$ 12.22 trillion).

This devaluation of Apple is a movement felt throughout the technology market, the most affected by the increase in interest rates in the US, which is currently between 0.75% and 1% – the highest since the 1980s – to contain inflation. in the country, but had a direct impact on the country’s stock markets.

The situation can be observed by the fluctuation of the Nasdaq index, which in 2022 alone has already dropped 27.36% — at least 16.71% last month alone. These numbers are only lower than the Russian stock exchange, which suffers from economic sanctions against the country as a result of the conflict with Ukraine.

Tech stocks are plummeting as a result of rising US interest rates. (Image: Playback/Nicholas Cappello/Unsplash)

As it is not yet known how much interest will be able to increase to contain inflation in the US, investors remain cautious about expectations of profits and growth forecast for 2022 for most tech companies – especially if the speculation of the charges reaches 6% turn out to be true.

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