Apple is again the biggest public company on the planet, ascending Wednesday to the position it lost to Microsoft in January thanks to Apple stock’s meteoric rise following Monday’s event laying out the iPhone maker’s generative artificial intelligence strategy.
All other public companies are once again looking up to Apple.
Apple’s $3.3 trillion market capitalization Wednesday narrowly outranked Microsoft’s $3.26 trillion.
The passing of the torch came as Apple stock gained 4% in Wednesday trading, continuing its two-year-best 7% rally Wednesday.
Apple’s valuation is more than $330 billion higher than it was at Monday’s market close, casually tacking on the market cap equivalent to the total valuation of Bank of America, the 30th-largest company in the world.
Microsoft shares still rose 1% on Wednesday to an all-time high, joining the broader rally as the S&P 500 set another record high.
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