Things were looking grim on the investor side of things when it comes to Apple ahead of its most recent quarterly earnings report.
However, it looks like everything is doing just fine for the company. As was reported by CNBC, Apple has closed out Wednesday with a current market capitalization of $821.59 billion. That number has earned Apple the top spot on the list of companies, taking back the title of the world’s most valuable company. It briefly held that title near the end of last year, but Microsoft officially snatched it away in November.
Microsoft is currently sitting at $813.48 billion, putting it in a healthy second place. Meanwhile, Amazon is at $805.70 billion, and Google is at $778.93 billion market capitalization. Apple, Amazon, and Microsoft have been in a heated back-and-forth for the top spot for weeks now. While Apple once again holds the crown now, it’s not at all impossible that one of the other companies takes it back, even if it is for a brief time.
“But the recent earnings season has swung the pendulum back in Apple’s favor. Apple suffered a steep loss in market value in early January after warning investors to expect weak revenue for its first quarter 2019. In the three months leading up to the warning, investors already anticipated the revenue drop and Apple’s market cap bled $452 billion.”
That’s good news for Apple and its executive staff, and probably good news for the investors out there watching the numbers in the hawkish way that they do. Of course, these things change pretty consistently, so while Apple may be riding high right now, it could find itself lower than the other companies soon enough.[via CNBC]