Apple is once again the most valuable company in the world
Apple has retaken the crown from Microsoft to become the most valuable company across the globe
- Apple outshined Microsoft in market value at the end of trading Wednesday
- At present Apple is the most valuable publicly traded company
Apple has retaken the crown from Microsoft to become the most valuable company across the globe.
On Wednesday Apple outshined Microsoft as the world's most valuable publicly traded company at the close of trading after a hot streak stemming from better-than-expected earnings last week.
Apple was flat on Wednesday, giving it a market capitalization of $821 billion, at the forefront of Microsoft's market value of $813 billion after a 1.1% slip. Both these firms were ahead of Amazon, which had a market value of $805 billion at the end of the markets on Wednesday.
According to Bloomberg data, since December 3, this is the first time Apple has closed as the most valuable company. Prior to this, it was in the year 2010 that Microsoft was more valuable than Apple.
Although Apple had been whacked on fears of slowing Chinese demand, potential tariffs, a revenue warning, and slow iPhone demand, it's been up 12% since its most recent earnings. Where Apple said that every other product line aside from the iPhone showed strong growth.