Apple Overtakes Microsoft as Most Valuable U.S. Company

Jun 12, 2024 thejournalbiz

Apple’s rising shares lifted the iPhone maker’s market cap above that of Microsoft.

Apple’s stock recently stood about 4% higher.

Tweet on Apple and other big tech stock fluctuation

Apple's rising shares lifted the iPhone maker's market cap above @Microsoft #apple #microsoft #shares pic.twitter.com/NAY6u1Qbcv

— The_Journalbiz (@the_journalbiz) June 12, 2024

Factset chart

The gains followed a more than 7% jump yesterday, powered by optimism about its new AI offerings, which left its shares at a record high.

Apple’s market cap was recently at $3.32 trillion, making it the most valuable U.S. company.

It was the first time since January that Apple has had a higher market value than Microsoft.

Microsoft stock was recently up more 1%, valuing the company at about $3.26 trillion. It also closed Tuesday at a record high.

Nvidia, which last week rose to a higher market value than Apple for the first time since 2002, was up more than 4%. It came third in the list of largest U.S. companies by market cap, followed by Alphabet and Amazon.com.