Apple’s stock price continues to surge following a record high yesterday. During the evening trading hours in the US stock market, Apple’s market capitalization surpassed Microsoft once again. Apple’s market cap stands at $3.3 trillion, while Microsoft’s is at $3.2 trillion.
However, after the market closed, Microsoft reclaimed a higher market cap than Apple. Microsoft’s market cap is $3.278 trillion, while Apple’s is $3.267 trillion.
Several analysts have a positive outlook on Apple for similar reasons, such as the introduction of Apple Intelligence (AI) features. This innovation is expected to drive more upgrades to the latest iPhone models, as the feature is exclusive to the newest iPhones. Nonetheless, Microsoft also benefits from Apple Intelligence as part of this service is connected to OpenAI, in which Microsoft is a major investor.
Source: CNBC
TLDR: Apple’s stock price rises, surpasses Microsoft in market cap, but Microsoft regains the lead. Analysts bullish on Apple due to Apple Intelligence, which also benefits Microsoft.
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