14 DAY TRIAL // Apple managed to rebecome the most valuable company in the United States earlier this week, but it all lasted for just a few seconds before Microsoft reclaimed the top stop once again.
As reported by Reuters, it all happened on Monday when Apple reached a market capitalization of $806.6 billion, just $200 million higher than Microsoft, but beating Amazon by no less than $1.2 billion.
And while Microsoft managed to jump back on the leading spot, Apple ended up becoming the second most valuable company in the United States, just above Amazon, thanks to a 0.4 percent increase at the end of the day.
But as the cited source notes, it won’t be Microsoft the one that will remain the leading company in the charts. Target prices put Amazon on the top spot with a market valuation of $1.03 trillion, while Microsoft is the runner-up with $967 million. Apple is only fourth after Google’s parent company Alphabet.
Poor iPhone sales
Apple was the first company in the United States to be worth $1 trillion, but its sales in the last few quarters dragged it down to the fourth place overall.
Weak iPhone demand is mostly the one to blame for this massive drop, as the 2018 generation, which was originally projected to push the company’s market valuation even further, performed well below expectations.
Apple has tried to reignite interest in iPhones with a series of measures, including increased value for trade-ins and price cuts offers to certain carriers. Up until now, however, sales of the iPhone are far from reaching Apple’s original projections, and this translates to modest increases in terms of market cap too.
As per Reuters, Apple stock increased 11 percent since its quarterly reported last week, while both Microsoft and Amazon declined.