Apple has regained the title of the most valuable company in the world, reaching a new all-time high with a valuation of $3.62 trillion. This milestone occurred after Apple’s shares rose 2.5% in a single day, driven by a report from Morgan Stanley that highlighted the company’s advancements in artificial intelligence.
3.62 billion dollars is a lot of money
Morgan Stanley’s analysis, as reported by Reuters, pointed out that Apple’s artificial intelligence is a clear driver for increasing sales of devices such as the iPhone and iPad. Let’s remember that the iPhone 15 Pro and Pro Max are currently the only iPhone models that support the full range of Apple Intelligence features. This is a fact that Apple has already explained its reasons for and should lead to a significant sales cycle for the iPhone 16 this year.
The analysts at the firm raised their price target for Apple shares and designated the company as a “top pick”, citing the company’s artificial intelligence projects as a key catalyst for the growth of its device sales. This boost in the stock value has led Apple to surpass other usual contenders for the title of the world’s most valuable company, such as Aramco, Exxon Mobil, and Microsoft.
It was in January when Microsoft took the lead over Apple, taking advantage of its strong reputation in the field of artificial intelligence. Now, Apple has regained the crown with the same argument, highlighting its ability to integrate AI into its products. Apple’s shares, which have increased more than 25% so far this year, reached $236.27 yesterday, putting the company’s market value at $3.62 trillion.
As Tim Cook has commented on more than one occasion, the company is thinking long term, not the other way around. Apple’s CEO has also mentioned that he is not too concerned about the stock market, as it is only the result of the company’s good performance. That being said, it is clear that beyond money, investors are responding very positively to Apple’s announcements. Since the WWDC and the increase in shares on that same day, they have maintained a really interesting trend.
