Apple (AAPL) has surpassed Microsoft (MSFT) in market cap, reclaiming its place as the most valuable company. Apple's market cap is now over $3.228 trillion, and its stock price has been gradually climbing following the company's AI showcase at the Worldwide Developers Conference (WWDC) on Monday.
Yahoo Finance's Julie Hyman and Josh Lipton track Apple's stock price movements this week and ask how the company hopes customers will use its new AI capabilities.
For more expert insights and the latest market trends, click here to watch this entire episode of Market Domination.
This post Luke Carberry Morgan.
Check out more coverage of Apple and its WWDC announcements from Yahoo Finance.
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Video Transcript
Apple has reclaimed its title as the world's most valuable company and technology giant.
Apple's AI announcements sparked investor enthusiasm and sent its stock price to an all-time high, causing the company's market cap to surpass that of Microsoft early today.
But it's a bit late, isn't it?
It seemed like a bit of a delayed response, but here is the market capitalization of all the stocks in North America, the NASA 100.
Apple's is $3.283 trillion and Microsoft's is $3.273 trillion.
And in third place is NVIDIA.
3.89 trillion.
However, today, for the first time in a long time, the two are essentially interchangeable.
Yep, that's enough.
We were talking about this off-camera, and I think Julie was kind of relieved here, too: The big question is, what is the company's AI strategy, right?
What is the vision?
And at least Tim Cook came on stage with the company's software chief, Craig Federici, and said, “This is it.”
This is the vision.
This is the strategy.
Upcoming features include:
Is there any relief there?
At least there's clarity.
And when I see movements like this, I think that must be the case.
Let me explain in a bit more detail here.
So here are the prices today, let's take it out and take a look.
For example, let's look at a 3-day chart.
They first made these announcements on Monday.
And of course, yesterday I saw the elevator.
And there's another increase today, bringing it to 9% in three days.
It's just that more and more people are betting that what we're hearing will spur a truly meaningful upgrade cycle.
Maybe, just maybe that's the case.
So, as I wrote in my little morning newsletter this morning.
It could also be a numbers game.
If you look at the sheer number of people who own an iPhone, we're talking about an estimated installed base of around 1.5 billion people, not all of them will be getting these AI upgrades today, but they'll just be getting the iPhone 15 or something newer.
It will be released in the fall.
Many people still use it in their daily lives.
And then you finally understand what the “I” is good for.
On a personal level, I feel like I sort of understand what it's for in a company, but I'm not really sure how to use it on a day-to-day basis.
Probably will be the case.
This is a discovery process for that, and I think that's a great point, because that's probably what Tim Cook is thinking too.
We're just getting started.
I still have the opportunity to partner with Sam Altman and his team at Open AI, and I'm able to use this time to learn a lot about how people are using this.
A. Use technology to find out what your customers like and dislike, as this will all be useful in the future.
Well, all is equal now.
Well, that stock is doing well again now and is bigger than Microsoft.
