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Scoot over Microsoft: Apple wins back its crown as most valuable US company

While Apple has gained in recent sessions, Microsoft and Amazon's shares fell after their quarterly reports

Reuters  |  San Francisco 

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won back its crown as the most valuable publicly listed US company on Wednesday, ending the session with a market capitalisation above recent leaders and com.

edged up 0.03 per cent, putting its market value at $821.5 billion. Microsoft's market capitalisation ended at $813.4 billion after its stock dipped 1.11 per cent, while Amazon's stock market value finished the day at $805.7 billion, in third place, after its shares slid 1.12 per cent.

Apple's stock has risen about 13 per cent since its quarterly earnings report on Jan. 29, with investors betting it was oversold following months of concern about a slowdown in demand and the company's rare revenue warning on Jan. 2 related to soft demand in

But slowing sales have led to lower expectations for Apple's stock. The average price target for has fallen from $240 three months ago to $175, less than a dollar more than its current stock price of $174.24.

For graphic on Apple's rising valuation, click https://tmsnrt.rs/2UMQGR0

After touching a record $1.1 trillion last October, Apple's market capitalisation fell gradually, and it was overtaken in December by and Microsoft, which have taken turns in the top position since then.

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, and Amazon's shares fell after their quarterly reports. has declined almost 5 per cent since Thursday, when it forecast first-quarter sales below Wall Street estimates and said it would step up investments in 2019.

"That has raised some eyebrows, it's a perception that Amazon may be settling into a more mature phase in terms of growth," said Dan Morgan, a at in

Morgan owns shares in Apple, Amazon and Microsoft, but he said that if forced to choose, he would favour Amazon because of its lead in

Microsoft's stock is about flat from last Wednesday, when the met targets for its quarterly results and forecast.

First Published: Thu, February 07 2019. 03:21 IST
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