Apple surpasses Microsoft as world's most valuable company

Company News

by Glenn Dyer

The great Apple charge continued Wednesday, with the company’s market value topping Microsoft’s for a while during trading, regaining the mantle as the world’s most valuable company.

The price jump came as investors realized that Monday’s AI announcement—now called Apple Intelligence—had been a masterstroke and not a flop. It was the first indication of how the company plans to integrate artificial intelligence across all its devices, held by more than 2 billion people around the world.

Apple shares closed higher, taking the combined gain on Tuesday and Wednesday to 10%.

This saw its market value vault to $3.34 trillion—the highest ever recorded for a listed company—before the shares faded in the final hour of trading to end up 2.8%, with a market value of $3.27 trillion, just behind Microsoft.

Microsoft shares rose nearly 2% on Wednesday, lifting its value to $3.28 trillion.

Shares in Nvidia were up 3.5%, with the market value topping $3.08 trillion.

Apple’s surge dragged the S&P 500 above the 5,400-point level for the first time ever.

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.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?