# Apple beats Microsoft, worlds most valuable company 

> On June 12, Apple regained its position as the world's most valuable company, surpassing Microsoft, as it surged ahead in the race to dominate artificial intelligence technology. Apple's shares soared nearly 4% to a rec…

Published: 2024-06-25 · Desk: Tech & Startup · Source: Reuters

On June 12, Apple regained its position as the world's most valuable company, surpassing Microsoft, as it surged ahead in the race to dominate artificial intelligence technology. Apple's shares soared nearly 4% to a record $215.04, pushing its market valuation to $3.29 trillion, while Microsoft's market capitalization lagged slightly at $3.24 trillion, marking the first time Apple had outpaced its rival in five months.

The spike in Apple's stock occurred as the tech-heavy Nasdaq reached an all-time high, fueled by indications of moderating inflation. The previous day, Apple's shares had risen over 7% following the announcement of a series of AI-driven features and software updates for its products, a move that analysts believe will drive iPhone sales.

During Apple's annual developer conference, CEO Tim Cook and other executives highlighted advancements such as Siri's enhanced capabilities to interact with messages, emails, calendars, and third-party applications.

Original reporting: https://www.reuters.com/technology/apple-beats-microsoft-return-worlds-most-valuable-company-2024-06-12/
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