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Apple surpasses Microsoft as most valuable US company

Apple (AAPL) closed Thursday with a market capitalization that surpassed Microsoft's (MSFT) for the first time since January, making it the most valuable US company.

Yahoo Finance's Seana Smith and Brad Smith report more on the story and some of the tailwinds for the tech giant.

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

This post was written by Melanie Riehl

Video Transcript

All right, let's take a look at Apple because Apple taking back the reins as the most valuable company in the US.

Now, the company closing with the market cap above Microsoft for the first time since January that happened at the close yesterday.

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Now, Apple adding 324 billion in market cap over the last three trading sessions according to the latest that out from Dow Jones, a market data here.

When you take a look at where things stand right now, you've got Apple and the lead at 3.28 trillion, not far behind.

You got Microsoft there in the number two spot, NVIDIA still holding above a three trillion here.

So the race between those three.

But I I think Brian when you take a step back and take a look at the excitement surrounding Apple this week this week and really taking a look at that five day chart if we could put it up because I think that is what's so interesting about this dramatic move that we have seen higher at least since Tuesday because we got the update from Apple on Monday.

The market's reaction was pretty muted.

Right.

And, and then after we had about 24 hours or so to digest it, we have seen the stock really take off.

And I think that also just explains what is going on in the market here over the last several months.

If you do, if you are able to convince investors that you are a valid A I play that you are, will be among the winners within the A I realm here over the next several years, it it's giving investors a reason to buy in here.

And I think by looking at some of the gains that we've seen over the last couple trading days, people are confident that Apple is going to be a winner in A I and, and in this market, I think you need to or, or it really helps if you are able to convince investors of that story and get them on board with maybe what the next several years are going to look like here for the company.

And a lot of those gains potentially driven by A I investments.

I mean, this was a critical WW DC for the company you'd seen year to date coming into May, the company not participating in the broader rally that we had seen in the markets.

And that really signals one thing, especially when you have a broader mindset among some of the investors out there.

And traders out there of this buy on the dip mentality for Apple to not be participating even though there was a clear between March and May extended dip that presented opportunities for buying into apple.

And to now just finally get year to date on a positive level as of late May, early June.

And now looking at gains really that have been amassed over an aggregate, at least for the year amassed largely during June.

Here.

It's coming on the back of this company finally saying what it's going to do with generative A I and the optimism of investment that it could show up in some of the consumer technology devices.

And it'd be enough to actually spur a super cycle of demand because they're saying it's only going to be for specific devices that it's going to be leveraged in, at least on the outset here.

And so that super cycle I think is what a lot of investors are hanging their hat on.

That's why you're seeing them finally participating in some of this year to date movement hire.

And we'll see if Apple can sustain this going forward.

But once again, now, more valuable than, yeah, mostly the other.