Rising oil prices and inflation, which led to a decline in technology stocks, contributed to the loss of Apple’s status as the most valuable company in the world. She lost her place to the Saudi national oil company Saudi Aramco.

According to the agency, the company’s market capitalization was $2.43 trillion, while Apple’s was $2.38 trillion. It is noted that even if Apple manages to regain its leadership position, the current situation shows significant changes in the situation in the global economy.

At the beginning of 2022, Apple for the first time exceeded the capitalization of three trillion dollars, which had not been possible for any of the companies before, but after that this indicator of the corporation dropped significantly.

Earlier it became known that Apple stopped production of iPod audio players. At the same time, the company noted that the capabilities of the iPod are supported by other Apple products.