Apple Inc.’s stock price went up a lot on Tuesday, adding about $215 billion to the market capitalization of the company and bringing it closer to becoming the biggest U.S. company again.
Shares of Apple AAPL, +7.26% went up 7.3% on Tuesday, which was the best single-day percentage gain since 2022 and only the third gain of more than 7% in the last three years.
The stock went up the most in both the S&P 500 SPX and the Dow Jones Industrial Average DJIA that day. Its rise added nearly 92 points to the Dow. Bloomberg says that since November 30, 2021, Apple shares have not been the biggest daily winner in the S&P 500.
This was the biggest one-day gain in market value for the company ever, and it was also the third-biggest gain for any U.S. company ever.
Apple grew the market-cap gap between itself and Nvidia Corp. NVDA, -0.71%, while getting closer to Microsoft Corp. MSFT, +1.12%, which is the biggest U.S. company by market value right now. The market value of Microsoft reached a new high of $3.22 trillion on Tuesday.
According to Dow Jones Market Data, the difference in market value between Apple and Microsoft was $39.4 billion at the end of the day. Since January 26, that’s the smallest difference between the two groups. Since January 24, Apple has not been worth more than Microsoft.
Apple set a new record market cap of about $3.18 trillion, the highest it had been since the end of July 2023, when it was $3.09 trillion. The market value of the company has gone up by $628 billion since the middle of April, when it hit its 2024 low point. Apple’s market cap has grown since 2024, making it bigger than the market caps of all but eight U.S. companies, not counting its own.
Apple’s stock also hit a new high for the day, closing at $207.15. That was the best finish since December 14, 2023.
Yesterday, Apple shares went down after the company’s WWDC keynote, but today, analysts have written reports that are positive about the company’s plans and announcements.
He wrote that the new Apple Intelligence AI features will only be available in the autumn on the iPhone 15 Pro, the iPhone 15 Pro Max, the iPad, the Mac with M1 chips or higher, and other new products. “Older things, like all those iPhones you bought during COVID, will not work with AI.” We’re now more sure that our Super Cycle theory is true, which means that iPhone sales could grow by about 20% for up to two years.
