It's iPhone Duo launch day around the world, and Wall Street is pleased. Apple reclaimed the title of most valuable company in the world on Friday as it reached new trading highs. Nvidia had previously held the top spot based on market capitalization.
Apple stock traded above $351 per share on Friday, setting a new intraday trading record for the company. With a market cap valuation around $5.12 trillion, Apple became the top company in the world once more. Nvidia and Google follow behind.
Today is also the release date for the iPhone Duo, Apple's $2000 foldable iPhone. The device marks the company's latest push into foldable hardware, arriving on the same day the stock reached its new peak.
The milestone underscores how investor enthusiasm around Apple's product launches has translated into strong market performance. Apple's ranking shift reflects the ongoing competition among the world's largest technology firms for the title of most valuable company.
Source: 9to5Mac · Summarized by HeadlinesBriefing