Reported about 1 year ago
Apple has surpassed Microsoft to become the world's most valuable company once again, with a market valuation of $3.29 trillion after its shares rose nearly 4%. This shift marks the first time in five months that Microsoft fell behind Apple's market capitalization, as Apple unveiled AI-enabled features at its annual developer conference, boosting investor confidence and driving iPhone sales. Despite trailing in AI technology compared to rivals like Microsoft and Google, Apple's strong quarterly results, buyback plan, and positive forecast have contributed to its shares rising 12% in 2024. In contrast, Microsoft and Alphabet have seen increases of 16% and nearly 28% respectively, with AI chip leader Nvidia notably up by 154%. Tesla is the only other top technology stock experiencing a decline this year.
Source: YAHOO