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Apple regains title as most valuable US company, beats Microsoft and Amazon

With Microsoft and Apple rallying almost 3%, Apple's market capitalization for a few seconds was $806.6 bn, exceeding Microsoft's by $200 mn and Amazon's by about $1.2 bn

Reuters 

Apple, iPhone, iPhone manufacturing, Apple Inc
Photo: Reuters

very briefly retook its title as the most valuable publicly listed on Monday, beating out and com, while was close behind the trio as it prepared to report its quarterly results.

With and rallying almost 3 percent, Apple's market capitalization for a few seconds was $806.6 billion, exceeding Microsoft's by $200 million and Amazon's by about $1.2 billion.

quickly returned to its spot as the most valuable company, but was on track to end the session above Amazon, up 0.4 percent, taking the No 2 spot.

Average analyst price targets imply would become by far the most valuable US publicly-listed company at $1.03 trillion, followed by Microsoft at $967 billion, at $927 billion and Apple at just $835 billion, according to Refinitiv data.

GRAPHIC: Tech heavyweights' market cap, https://tmsnrt.rs/2HTwYRR

Apple's stock has risen 11 percent since its quarterly report last Tuesday, with investors betting it was oversold following months of concern about a slowdown in iPhone demand, and the company's rare revenue warning on Jan. 2 related to soft demand in China.

After touching a record $1.1 trillion last October, Apple's market capitalization fell gradually, and it was overtaken in December by and Microsoft.

Apple's stock market value hit a low of $675 billion on Jan. 3 after its revenue warning, but then steadily recovered, helped in part by a quarterly report that was better than feared by investors.

While Apple has gained in recent sessions, Microsoft and Amazon's stocks have fallen after their quarterly reports. Amazon has declined about 4 percent since Thursday, when it forecast first-quarter sales below estimates and warned over new regulations in India.

Since Wednesday, when Microsoft met targets for its quarterly results and forecast, its stock has slipped nearly 1 percent.

Google-parent was up 2.6 percent, putting its stock market value at $788 billion. After the bell, the company is expected to post quarterly revenue of $38.9 billion, up 20 percent, and a 12 percent increase in non-GAAP net income to $7.7 billion, according to Refinitiv data.

 

 

First Published: Tue, February 05 2019. 02:14 IST
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