Apple reclaims top spot as world's most valuable company
PUBLISHED
2024-07-09
Content
Apple shares continued their recent bounce on Monday, reclaiming the top spot as the world’s most valuable company.
Shares in the iPhone giant rose 0.65%, taking the company’s value to $US3.49 trillion, just ahead of Microsoft, whose shares eased 0.3%, reducing its value to $US3.47 trillion.
Nvidia performed the best of the trio, with a near 1.9% gain on Monday, ending at a value of $US3.15 trillion. This rise was larger than last week’s increase.
Apple shares are up almost 18% in the past month in a rally that defies earlier gloom. Microsoft shares are up nearly 9%, while Nvidia's huge rise has temporarily slowed, with the shares up by 5.2%.
Still, all three have outperformed the S&P 500, which is up just 4% in the past month.
Nvidia has underperformed compared to Nasdaq in the same period, with Nasdaq up 7%.
Author
| Name | Glenn Dyer | Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey. |