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Apple becomes most valuable company as it prioritizes AI

Apple's (AAPL) market cap has surpassed Microsoft (MSFT), reclaiming the throne as the most valuable company. Apple's market capitalization is currently valued just above $3.228 trillion as its stock slowly took off following the company's AI showcase at its Worldwide Developers Conference (WWDC) on Monday.

Yahoo Finance's Julie Hyman and Josh Lipton track Apple's stock movement this week and inquire about how Apple expects its customers to use its new AI features.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Luke Carberry Mogan.

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Check out more of Yahoo Finance's coverage of Apple and its WWDC announcements:

The challenge of Apple's 'AI for the rest of us' is we don't know what it's for: Morning Brief

Apple will no longer be 'missing out' with new AI initiative

Apple AI: Do consumers share same enthusiasm as investors?

Apple's iPhone segment will grow by 10% next year: Analyst

Apple looks to make AI more personal

Video transcript

Apple has reclaimed the title of world's most valuable company, The tech Giants.

Market capitalization surpassed that of Microsoft earlier today, after Apple's A I announcements ignited investor enthusiasm and drove the stock to a record high.

But it was a little bit of a delay, right?

It was a little bit like of a delayed reaction, but what we have here are the market caps of every stock in the NA uh, NASA 100.

Here you have Apple $3.283 trillion Microsoft $3.273 trillion.

And then you got NVIDIA, which is in third here.

3.089 trillion.

But these two basically switch today for the first time in a while.

Yeah, it's been enough.

We were talking off camera about this, and I wonder how much Julie is almost a kind of relief as well Here, like the The big question was, What is this company's A I strategy, right?

What is the vision?

And Tim Cook, at the very least, came out along with re Craig Federici, their their software chief, and said, Here it is.

Here's the vision.

Here's the strategy.

Here are the features that are coming.

I wonder if there's some relief there.

At least you have clarity.

And then when you when you see a move like this, there just has to be.

He move in a little more detail here.

So here's the price to day, but let's pull it out and take a look.

Let's say the three day chart, right?

So this was Monday when they first came out with those announcements.

Then, of course, we saw the lift yesterday.

And then there's the lift again today, so the three days now equals a 9%.

There are just more people now betting that what we heard is gonna really motivate some meaningful upgrade cycle.

You know, maybe maybe that's what it is.

I mean, as I wrote in this morning morning, this morning's morning brief newsletter.

It also might be a numbers game.

When you look at the vast numbers of people who have iPhones, you're talking about what an installed base of something like 1.5 billion people estimated, even if not all those people are getting these a I upgrades today, it will just be iPhone 15 and above the new one.

That's coming out in the fall.

That's still a lot of people using it in their daily lives.

And we can finally get a feel for what a I is good for.

On a personal level, it feels like we know what it's for in enterprise to some degree, but we don't really know, Like, how do we use it on a day to day basis?

Maybe this will.

This is a discovery process for that, which I think is a great point because maybe that's what Tim Cook is also thinking.

It's such early days.

I can still I can partner with Sam Altman and his team in Open A I. I can still just take this time to learn a tonne about how people use this.

A. I tech what they like, what they don't like, right, all useful down the road.

Well, all of it now is equaling.

Um um stock that is now positive again on the air and bigger than Microsoft