Amazon and Microsoft had been reigning for some time, but last week Apple won back its crown as the most valuable publicly listed U.S. company.
Apple’s shares edged up 0.03%, bringing its market value at $821.5 billion. Microsoft’s market capitalization ended at $813.4 billion after its stock dipped 1.11%, while Amazon’s finished the day at $805.7 billion after its shares slid 1.12%.
Apple’s stock has risen about 13% since the company released its quarterly earnings report on January 29, with investors betting it was oversold following months of concern about a slowdown in iPhone demand and a rare revenue warning on January 2 related to soft demand in China.
However, it hasn’t been all uphill. After touching a record $1.1 trillion last October, Apple’s market capitalization fell gradually, and it was overtaken in December by Amazon and Microsoft, which have taken turns in the top position since then.
Apple’s stock market value hit a $675 billion low on January 3, after its revenue warning, but then steadily recovered, helped in part by a quarterly report that was better than feared by investors.
Microsoft and Amazon’s shares fell after their quarterly reports were released. Microsoft’s stock is about flat from last Wednesday when the software maker met targets for its quarterly results and forecast. Amazon, too, had sloping share prices.
While this seems to be great news for Apple, the company still has a long way to go as it is targeting to reach its trillion dollar valuation again.
Top companies around are now eyeing to join the “Trillion Dollar Club,” and these three companies are currently leading the race. However, with quite a few exciting IPOs anticipated this year, this will be an interesting battle to watch.