Has Apple Peaked?

Apple  (AAPL) – Get Apple Inc. Report may dominate the market for smart phones, but it’s no longer the biggest company in the world by market capitalization.

Saudi Arabia’s giant oil company Saudi Aramco took that honor from Apple Wednesday, when Aramco’s market-cap stood at $2.43 trillion, compared to $2.37 trillion for Apple.

Aramco shares trade on the Saudi Tadawul stock exchange in riyals. The company has benefited from the rise in oil prices this year. U.S. oil prices have climbed 42% year to date. At the same time, Apple has suffered from supply chain turmoil in China.

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