Apple stock surges 7% after AI feature announcement, approaches Microsoft's market value

Updated : Jun 12, 2024 11:34
|
Editorji News Desk

Apple's stock surged over 7% on Tuesday, hitting a record high and closing in on Microsoft's position as the world's most valuable company.

This increase followed the announcement of AI features or what is being called Apple Intelligence features at Apple’s annual developer event. 

Also read/watch - India fastest growing economy, to clock 6.7% growth over 3 years: World Bank
 
According to company officials, this new offering aims to provide iPhone users with advanced generative AI capabilities.
Despite a decline on Monday, Apple shares rebounded on Tuesday, rising more than seven percent and boosting all three major stock indices.

Apple ended the day over 207 dollars per share, with a market capitalization of 3.18 trillion dollars, just behind Microsoft's 3.22 trillion dollars and ahead of AI chip giant Nvidia's 2.97 trillion dollars.

This reflects the intense competition among major tech companies for market dominance.

Apple

Recommended For You

Sensex, Nifty surge in early trade on hopes of India-US trade deal, FII buying
editorji | Business

Sensex, Nifty surge in early trade on hopes of India-US trade deal, FII buying

Global stock market indices: How the world markets performed today - 01 May 2025
editorji | Business

Global stock market indices: How the world markets performed today - 01 May 2025

editorji | Business

Indian stock market sector-wise performance today - May 1, 2025

editorji | Business

Top 5 Nifty 50 gainers today – May 1, 2025: Biggest stock moves

editorji | Business

Global stock market indices: How the world markets performed today - 30 April 2025