Apple may have never been the world’s most profitable company

The rising price of oil has not only hurt your wallet’s thickness at the pump in the gas station but also Apple’s standing as the most profitable company in the world. The world’s top phone maker in terms of revenue and margins has now given way to none other than Saudi Aramco, the oil giant from the sands of Arabia.

Saudi Aramco bagged the whopping $111 billion of net income last year, buoyed by the rising price of oil, but the reason we are learning this is that the government of Saudi Arabia wants to list the oil giant on a public stock exchange for the first time. Aramco …

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