TECH - ETFs in Focus as Apple Reclaims Most Valuable Title | Benzinga
Apple Inc. (NASDAQ: AAPL) has regained its position as the world's most valuable company, topping Microsoft Corp. (NASDAQ: MSFT). This achievement marks a significant milestone, driven by Apple's recent announcement related to its generative AI initiative called "Apple Intelligence".
These potential AI initiatives generated optimism about future iPhone generations and likely revenue increases. Apple Intelligence will be available for the iPhone 15 Pro, iPads, and Macs running Apple's M1 series chips and newer models starting this fall. This could even result in a rebound in iPhone sales following recent declines in fiscal performance.
Market Capitalization and Recent Performance
Thanks to investor optimism surrounding its growth prospects, particularly in AI, Apple just logged its best three-day run since 2020, per Bloomberg. Following a robust rally, Apple closed with a market capitalization of $3.285 trillion on Jun 13, 2024, ...