Apple has once again trumped Amazon and Microsoft to the title of most valuable publicly traded company. The accolade means that it is the first the tech giant has held the title since December.
The Cupertino company closed last Wednesday’s stock market with a price of $174.24, leading to a market capitalization of a staggering price of $821.59 billion. That figure surpasses Microsoft’s market value of $813.48 by over $8 billion and Amazon’s market value of $805.70 billion by almost $16 billion.
Whilst Apple have briefly surpassed its two main rivals in the previous weeks, that title of the world’s most valuable publicly traded company has been traded back and forth for months.
A contradictory quarter
2019 didn’t get off to a great start for Apple as they experienced a substantial drop in market value having lowered its revenue guidance for the first financial quarter to $84 billion. Initial revenue guidance was forecast at $93 billion before dropping to $89 billion to $84 billion.
Following its earnings release upon the conclusion of January, reports indicated a revenue if $84.31 billion and net quarterly profit of $19.965 billion, or rather $4.18 per diluted share. Such figures highlight the slight recovery of Apple’s stock making it their second best quarter ever in regards to revenue and profit. This is some achievement given it ultimately ended up being lowered that expect amid underperforming iPhone sales.