Apple reclaims top spot as world's most valuable company

Company News

by Glenn Dyer

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%.

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?