Apple's market capitalisation hit $3.33 trillion on Wednesday, narrowly edging out Microsoft's $3.26 trillion.
Apple has regained its title as the world's largest public company, surpassing Microsoft, which had held the position since January.
Apple's market capitalisation hit $3.33 trillion on Wednesday, narrowly edging out Microsoft's $3.26 trillion.
According to Forbes, the resurgence follows a 5% increase in Apple's stock on Wednesday, continuing a two-year best 7% rally. Apple's valuation has grown by more than $350 billion since Monday's market close, an amount comparable to the entire market cap of Bank of America, the world's 30th-largest company.
Microsoft shares also rose 1% on Wednesday to reach an all-time high, contributing to a broader market rally as the S&P 500 set another record.
Apple is now the most valuable company ever, surpassing both its own and Microsoft's previous records of over $3.2 trillion.
On Monday, Apple announced a suite of AI features for iPhones, including the integration of OpenAI’s ChatGPT chatbot into Siri.
Notably, OpenAI’s for-profit arm is partially owned by Microsoft, intertwining the fortunes of these two tech giants.
After a slight dip on Monday following the “Apple Intelligence” debut, Apple stock surged due to Wall Street’s enthusiasm about the potential for increased iPhone sales.
Alongside Microsoft and Nvidia, Apple is leading a broader tech rally fuelled by optimism surrounding artificial intelligence advancements.