Apple has lost the crown of expensive company

Apple has lost the top spot in the world's most expensive company. For the first time in two years, Saudi oil and natural gas producer Aramco has snatched the top spot from Apple Corps, the BBC reports.

Investors are dropping shares of this technology company and their share price has fallen due to interest in investing in less risky technology. Due to which Apple has lost the title of its long time top organization.

Other digital assets, including Bitcoin and cryptocurrency, continue to fall.

Apple's share price fell 5 percent on Wednesday and at the end of the day its market value stood at 2 trillion 36 billion US dollars.

Oil and gas company Aramco, which tops the list, has a market cap of লাখ 242 billion.

This is the first time since 2020 that Aramco has reached the top. The rise in crude oil and gas prices has pushed up the price of fuel producers in the capital market this year.

On the other hand, Apple's share price has fallen by about 20 percent since the beginning of the year due to the release of shares of the technology company.

According to official estimates, the United States has the highest inflation rate in 40 years.

Rising prices of everything have become the biggest threat to the recovery of the world economy from the Covid-19 epidemic.

Central banks around the world are trying to solve this problem by raising interest rates. People have turned away from risky investments due to concerns that borrowing may slow down economic growth.

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