Update: Ten days later, Apple and Nvidia have exchanged rankings again and $AAPL surpassed $NVDA. Apple has yet to cross the $5 trillion market capitalization threshold, although intraday trading puts the company at around $4.944 trillion.
Apple has officially regained the title of the world’s most valuable company by market capitalization. The company outperformed Nvidia during intraday trading on Friday and its shares are up 17 points this week.
Apple is also on track to reach a $5 trillion valuation based on market cap. The company’s shares have already reached $4.9 billion. Nvidia has already claimed the title of first company to cross the $5 trillion threshold.
Apple’s stock moves on Friday follow several days of all-time highs for the company.
Apple briefly traded lower following the company’s unprecedented price increases on Macs, iPads and other products due to the ongoing global RAM shortage. However, the company more than recovered after a week of negotiation.
The next milestone for the company will be crossing the $5 trillion market capitalization threshold.
Meanwhile, Apple is currently undergoing a CEO transition from Tim Cook to John Ternus. The announcement was made official. earlier this year. August will mark Cook’s last month as Apple CEO. Cook will remain executive chairman of the board.
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