Apple Reclaims Title as Most Valuable Company with $3.506 Trillion Market Cap for First Time

Apple Inc. (AAPL) has reclaimed its position as the most valuable company in the world. The tech giant's market capitalization closed above $3.5 trillion for the first time ever on July 9, 2024, making it the first company to achieve this milestone. Throughout the week, Apple's stock saw a significant rise, increasing by 7.39% in a week, 16.49% in a month, and 34.68% over three months. Apple's market cap now stands at $3.506 trillion, surpassing Microsoft Corp. (MSFT), which has a market valuation of approximately $3.47 trillion. The top five most valuable companies now include Apple, Microsoft, Nvidia Corp. (NVDA) at $3.153 trillion, Alphabet Inc. (GOOG) at $2.344 trillion, and Amazon.com Inc. (AMZN) at $2.073 trillion. Apple has seen a 21% increase YTD, with a 35 P/E ratio and 1% YOY growth. Market sentiment is turning bullish as investors bet big on the upcoming iPhone 16.