Now, two technology giants - Apple and Microsoft - are competing for the title of America's most valuable company.
Apple 's Artificial Intelligence - AI announcements at the Developers Conference - WWDC 2024 caused the company's stock price to increase and quickly knocked Microsoft out of the leading position last Wednesday. While Nvidia rose to the top three, the US market continuously witnessed competition for the title of most valuable company between Microsoft and Apple.
Both companies have a market capitalization of more than $3,000 billion and last year, at one point, the difference was only about $100 billion.
CEO Apple - Tim Cook.
Microsoft actually overtook Apple for the top spot on January 11, 2024 but lost that title two hours later. The next day, the company regained this title.
After the announcement of WWDC 2024, Apple shares initially dropped, then rebounded and reached a record high price. When the market closed last Tuesday, Apple's stock price had reached $207.15, up 7.26% on the day and already on par with Microsoft's stock price.
Illustration.
And on Wednesday, Apple was ahead of Microsoft in terms of valuation. During Wednesday's closing session, Apple's stock price reached $215.04, higher than Microsoft's stock price.
Previously, at the launch of the iPad in 2010, the late Apple CEO Steve Jobs announced that the company is now worth more than 50 billion USD. This number is 60 times less than today. However, just like now, Apple continuously affirms that it does not focus on stock price.
