Technology
Apple tops Microsoft again in market value
Apple once again became the world's most valuable company on Wednesday, dethroning Microsoft from the top spot, as the iPhone maker pushed ahead in a race to dominate artificial intelligence Technology.
Its shares rose more than 2% to $211.75, giving it a market valuation of $3.25 trillion. Microsoft's market capitalization stood at $3.24 trillion, falling behindApple for the first time in five months.
Apple shares had surged to an all-time high in the previous session, a day after it unveiled a range of AI-enabled features and software enhancements for its devices, a move that several analysts said would power iPhone sales.
Read:Apple WWDC 2024: ChatGPT comes to iPhone; 'Apple Intelligence' unveiled
At Apple's annual developer conference on Monday, executives, including CEO Tim Cook, touted how voice assistant Siri would be able to interact with messages, emails, calendar as well as third-party apps.
The tech giant has trailed rivals such as Microsoft and Google-owner Alphabet in the red-hot field of AI, a reason why its shares underperformed this year compared to its peers.
Read:Apple in talks to let Google's Gemini power iPhone AI features
Apple's shares are up about 10% so far in 2024, while Microsoft has added about 16% and Alphabet nearly 28%. Some of the concerns over its weak share performance eased after Apple beat market expectations for quarterly results and forecast in May, and unveiled a record $110 billion buyback plan.
AI chip leader Nvidia, which briefly overtook Apple's market value last week, is up a whopping 144% this year. Nvidia last had a market value of $3.06 trillion. Tesla is the only other 'Magnificent Seven' stock that has fared worse than Apple this year, with a more than 30% slide.
-
Technology6h ago
Wild animals can experience trauma and adversity too − as ecologists, we came up with an index to track how it affects them
-
Technology19h ago
Pakistan's first data fest kicks off
-
Technology1d ago
SpaceX completes 99th mission of 2024, launching 20 Starlink satellites into orbit from Cape Canaveral
-
Technology1d ago
Intelsat 33e satellite suffers power failure in orbit
-
Technology2d ago
Famous brown dwarf is actually twins orbiting each other
-
Technology2d ago
I Launched the AI Safety Clock. Here’s What It Tells Us About Existential Risks
-
Technology2d ago
Journalist banned from X after publishing JD Vance dossier
-
Technology3d ago
The Wild Robot: Technological brilliance meets artistic storytelling in DreamWorks' new animation