Apple Becomes Most Valuable Company

Apple Becomes Most Valuable Company by Adam Rosen last updated on June 20, 2024

Apple (Aapl) Becomes Most Valuable Company Once Again

Apple (AAPL) has once again managed to become the most valuable company in the USA. The company has dethroned Microsoft (MSFT) to claim the top spot for itself once again.

The recent positive development from Apple (AAPL) comes as the iPhone maker has also entered into the AI race. The company is still new in the AI field and is relying on 3rd party AI solutions such as OpenAI ChatGPT to power up Apple intelligence.

Aapl Trades Near $211.75 With Bullish Bias

AAPL shares are trading at $211.75 with a 2% upside for the day & around $3.25 trillion market valuation. If we look at Microsoft, the company's market cap is $3.24 trillion, and the difference between the two is around $10 billion.

This marks the first instance in almost five months that Apple has managed to beat Microsoft and claim the top spot for itself.

The upside in the AAPL comes after the company announced a series of AI features in its devices. According to analysts, this move by Apple will boost the sales of iPhones and other devices.

According to Apple's CEO, their AI voice assistant is now able to interact with emails, chat, calender, & various other 3rd party apps.

Although Apple is relatively new to the AI field when compared with Google and Microsoft, the company has still managed to garner a lot of attention.

In the year 2024, AAPL shares are up by 10%, while Alphabet (GOOGLE) shares are up by 28%. Similarly, Microsoft has also secured a 16% gain this year so far.

So, as far as the stock market performance is concerned, the AAPL is lagging behind other tech giants. Last week, another development took place in which Nvidia took Apple's spot for a brief period of time.

In the year 2024, the only top stock that had worse performance was TSLA, which had lost around 30% of its value so far.