Tech giant Apple has once again ascended the throne as the most valuable company in the world. The company’s stock surged last month after unveiling artificial intelligence for its devices.
According to Nasdaq data, Apple’s market cap surpassed $3.5 billion on Wednesday, July 10, 2024. This breaks the previous record for any publicly traded company with a share price of around $232, Apple’s market -Cap reached $3.543 billion which is remarkable.
The record was previously held by Apple rival Microsoft, which had the highest market value closing on July 5 at $3.475 billion. This isn’t the first time Apple has broken pricing records. In August 2018, it became the first company to reach $1 billion. Two years later, it made history again by topping $2 billion for the first time, followed by reaching $3 billion last June.
But Apple stock got off to a rough start until 2024. Concerns about weak iPhone sales and competition from other tech giants led to analyst downgrades This led to Microsoft passing Apple higher in January, with AI features offered played a vigorous role the year before inspired
But with the announcement of its AI developments, Apple seems to be back on top. Investors have reacted positively to this new technology, boosting the company’s stock and reaffirming its position as the most valuable company in the world.
